Mid and Small-Cap Picks Ahead of Muhurat Trading 2026
As investors prepare for the Muhurat trading session that opens Samvat 2083, PL Capital has identified four mid- and small-cap stocks it believes could deliver significant upside. The brokerage projects up to 56% gains across Blue Star, CESC, Delhivery and Ingersoll-Rand (India), citing attractive valuations, solid earnings and supportive policy backdrop after the Nifty 50 and Sensex posted their biggest weekly gains in years at the close of Samvat 2082.
Blue Star closed 0.73% higher at ₹1580 per share on the BSE, with a market capitalisation of ₹32,487.14 crore. PL Capital rates the stock as a ‘Buy’ and sets a target of ₹1783, implying a 40-times September-28 earnings multiple. The firm expects revenue, EBITDA and profit after tax to grow at 17.6%, 18.1% and 23.2% CAGR respectively through FY29, driven by low residential air-conditioning penetration and a 25% growth outlook for the RAC industry in FY26-27.
CESC fell 3.11% to close at ₹126.20 per share, carrying a market capitalisation of ₹16,728.70 crore. The brokerage also assigns a ‘Buy’ rating with a target of ₹204. It anticipates an EBITDA CAGR of roughly 15% for FY26-29 and EPS growth of about 6% CAGR, supported by an expanding renewable-energy portfolio and stable cash flows from its core distribution and generation businesses.
Delhivery slipped 0.81% to finish at ₹425 per share, with a market capitalisation of ₹31,854.71 crore. PL Capital maintains a ‘Buy’ stance and a target price of ₹541, reflecting an expected sales CAGR of 18% over the next three years and EBITDA margins of 6.9% in FY27 and 9.4% in FY28. The company’s leadership in B2C logistics and a balanced insourcing mix underpin the outlook.
Ingersoll-Rand (India) closed 0.41% lower at ₹3977.70 per share, with a market capitalisation of ₹12,556.80 crore. The brokerage projects continued growth from strong domestic demand for compressors, particularly in centrifugal, air-treatment and oil-free rotary segments, and sets a target price of ₹5029.
Why it matters
These picks could offer higher returns for investors seeking exposure to growth-oriented mid- and small-cap Indian stocks ahead of the festive trading window.
FAQ
What upside does PL Capital forecast for Blue Star?
PL Capital sees up to 56% upside and sets a target price of ₹1783 per share.
What is the target price for CESC according to the report?
The brokerage gives CESC a target price of ₹204 per share.
How does PL Capital view Delhivery's earnings potential?
Delhivery is rated ‘Buy’ with a target of ₹541 per share and expected EBITDA margins of 6.9% in FY27 and 9.4% in FY28.
What price does PL Capital assign to Ingersoll-Rand (India)?
The target price for Ingersoll-Rand (India) is ₹5029 per share.
Source: Mint Markets. See the original source for full details.
Scan with your phone
Scan with your phone