Recommended stocks to buy on 16 October—top stock picks from market experts

The Sensex surged 575.45 points, or 0.70%, to settle at 82,605.43, while the Nifty 50 climbed 178.05 points, or 0.71%, to end at 25,323.55, comfortably above the 25,300 mark. The rally was supported by gains across the broader market, with the BSE Midcap index rising 1% and the Smallcap index adding 0.7%.

Amid this, India's top market experts recommend the following shares for Thursday.

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:

Welspun Enterprises Limited (Cmp ₹562.85)

WELENT: Buy above ₹563, stop ₹539 target ₹625 (Multiday)

• Why it’s recommended: Welspun Enterprises Limited is an Indian company that provides construction and development services in the infrastructure sector. The company provides a range of services across various industries, including aerospace, defence, communications, and healthcare. This counter after a sharp fall since June 2025 has formed a double bottom the strong decline that it had gone through. The strong push in prices seen on Tuesday. After a test above the clouds, we can see that the stock is set for a turnaround. Go long.
• Key metrics:
  • P/E: 25.47,
  • 52-week high: ₹664.10,
  • Volume: 1.99M.
• Technical analysis: Support at ₹1165, resistance at ₹1450.
• Risk factors: Concentration in specific industries and clients, reliance on key personnel, the competitive environment, and macroeconomic fluctuations.
• Buy : above ₹563.
• Target price: ₹625.
• Stop loss: ₹539.

Adani Energy Solutions (Cmp ₹944.20)

ADANIENSOL: Buy above 950, stop ₹925 target ₹990 (Intraday)

• Why it’s recommended: Adani Energy Solutions is India's largest private integrated energy player, with operations in power transmission, distribution, smart metering, and innovative cooling solutions. With momentum gathering pace we can look at the trends holding and galvanizing into a potential upward possibility in the next few weeks. Can look to go long.
• Key metrics:
  • P/E: 163.40,
  • 52-week high: ₹1090.65
  • Volume: 1.56M.
• Technical analysis: Support at ₹900, resistance at ₹1025.
• Risk factors: Volatile operating margins and Penalties for network expansion, regulatory risk.
• Buy at: above ₹950.
• Target price: ₹990.
• Stop loss: ₹925.

LTI Mindtree (Cmp ₹5609.50)

LTIM: Buy above ₹5630, stop ₹5530 target ₹5850 (Intraday)

• Why it’s recommended: The counter has been under consolidating for more than 5 months. As IT sector looks to pick up the beat we can notice the revival in sentiment that is now fuelling the prices again. The prices have surpassed the resistance zones around 5500 backed by volumes indicating that a positive turnaround is emerging. After the recent test of the Kumo region a strong closing on Wednesday, we can look at some positive vibes to emerge.
• Key metrics:
  • P/E: 35.94,
  • 52-week high: ₹6764.80,
  • volume: 339.38K.
• Technical analysis: Support at ₹5316, resistance at ₹6150.
• Risk factors: Supplier retention , potential customer acquisition challenges, high interest rates and inflation.
• Buy : above ₹5630.
• Target price: ₹5530.
• Stop loss: ₹5850.

Two stock recommendations by MarketSmith India:

Two stock recommendations by MarketSmith India:

Buy: BEML Limited (current price: ₹4,471)

• Why it’s recommended: Strong order book from defence, mining, and rail sectors, government focus on infrastructure and defence indigenization, diversified product portfolio, robust export potential, and global partnerships
• Key metrics: P/E: 60.74, 52-week high: ₹4,874.80, volume: ₹380.18 crore
• Technical analysis: Trendline breakout
• Risk factors: High dependence on government contracts and policies, cyclical demand from mining and construction sectors, margin volatility due to raw material price fluctuations, and disinvestment uncertainty, and regulatory risks
• Buy: ₹4,400–4,500
• Target price: ₹5,150 in two to three months
• Stop loss: ₹4,150

Buy: Coromandel International Ltd. (current price: ₹2,198)

• Why it’s recommended: Strong market leadership in fertilizers and crop protection, diversified product portfolio across agri-inputs and nutrients, strategic investments in agri-tech and bio-products, and focus on sustainability and green initiatives
• Key metrics: P/E: 32; 52-week high: ₹2,718.90; volume: ₹45.98 crore
• Technical analysis: Bounce back from its 200-DMA
• Risk factors: Dependence on monsoon and seasonal demand, regulatory risks and changes in fertilizer subsidy policies, intense competition from domestic and global players, fluctuations in global commodity and forex markets
• Buy at: ₹2,180–2,120
• Target price: ₹2,440 in two to three months
• Stop loss: ₹ 2,090

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O’Neil IndiaPvt. Ltd. Sebi Registration No.: INH000015543

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.