Stocks to buy for long-term: Apollo Tyres, Canara Bank, Premier Explosives, among Diwali stock picks by InCred Equities

The Indian stock market ended the Muhurat trading session 2025 on Tuesday marginally higher. The BSE and NSE conducted the one-hour special Diwali Muhurat trading on 21 October 2025. The benchmark Sensex and Nifty 50 extended their rally for the fifth consecutive session, and the indices also ended in the green for the eighth Muhurat session in a row.

InCred Equities has recommended five stocks to buy for the long term this Diwali 2025. The brokerage suggests buying these stocks for a timeframe for 12 months, based on their strong fundamentals and technical outlook.

The Diwali picks 2025 by InCred Equities include Apollo Tyres, Canara Bank, NESCO, Sandur Manganese & Iron Ores and Premier Explosives.

Apollo Tyres | Buy Range: ₹460 - 500 | Target Price: ₹580

Consensus estimates for Apollo Tyres upgraded with a 2-4% rise in consolidated EBITDA and 3-6% EPS improvement for FY26-FY28, supported by better debt management and tax benefits.

The brokerage firm recommends buying Apollo Tyres shares in the range of ₹460-500, for a target price ₹580, with a timeframe of 12 months.

Canara Bank | Buy Range: ₹120 - 130 | Target Price: ₹156

Canara Bank share price has convincingly broken above a decade-long horizontal resistance zone around ₹110-115, which had repeatedly capped rallies since 2011. MACD has just displayed a fresh bullish crossover and histogram is also turning positive pointing to a renewal of upward momentum and trend acceleration, All three Alligator lines are open and fanned upwards, indicative of an “eating” phase—signaling an established, strong trend, InCred Equities said.

The brokerage firm has a ‘Buy’ call on Canara Bank shares within a range of ₹120-130 and a target price of ₹156.

NESCO | Buy Range: ₹1,320 - 1,360 | Target Price: ₹1,655

NESCO share price action shows a multi-year ascending wedge with multiple successful tests of both the upper resistance and lower support levels with the most recent retest seen at ₹1,250 levels. Volume remains steady through the rally, supporting positive participation. The RSI remains above bullish support zones and shows an upward slope, further strengthening the bullish momentum for potential follow-through price action, InCred Equities.

The Williams Alligator remains widely fanned and fully aligned upward, signaling a clear “eating phase” — confirmation of a prevailing strong trend at higher timeframes, it added.

It recommends buying NESCO shares in the range of ₹1,320 - ₹1,360 for a target price of ₹1,655.

Sandur Manganese & Iron Ores | Buy Range: ₹205 - 225 | Target Price: ₹280

Sandur Manganese & Iron Ores share price has decisively broken above multi-year wedge resistance, marking a major bullish breakout after a prolonged consolidation, with retest confirmations at previous support and resistance points at 150 levels.

The brokerage suggests buying Sandur Manganese shares in the range of ₹205 - 225 for a target price of ₹280.

Premier Explosives | Buy Range: ₹630 - 650 | Target Price: ₹780

Premier Explosives share price has maintained a strong uptrend within a rising channel, pushing toward the upper boundary with clear higher highs and higher lows since its recovery in 2020. Recent candles show consolidation followed by a breakout retest at the lower channel line, which now acts as support—classic bullish behavior that sets the stage for continued upside.

The brokerage recommends buying Premier Explosives shares in the range of ₹630 - 650 for a target price of ₹780.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.