Diwali, known as the Festival of Lights, is considered one of the most auspicious occasions for new beginnings in India, and this tradition extends deeply into the stock market through the ritual of Muhurat Trading. During this special session, which occurs on Diwali each year, investors and traders invest in stocks, commodities, and mutual funds, seeking blessings for prosperity and financial growth in the coming Samvat year.
The period from Diwali Muhurat Trading 2024 to Diwali 2025 has been eventful for the Indian stock market, with several stocks delivering remarkable returns despite broader challenges such as the trade war, FII outflows, and global economic uncertainty. In this article, we highlight some of the top-performing stocks that stood out during this period.
From Diwali Muhurat trading 2024 (from November 1, 2024, to October 10, 2025), India’s headline indices, Nifty 50 and Sensex, recorded gains of 3.75% and 1.17%, respectively. The board-based index, Nifty 500, has gained 2.15% since last Diwali Muhurat trade, with ~41% of stocks delivering positive returns as of October 10, 2025.
In contrast, the Nifty SmallCap index declined by 3.68%, indicating a challenging environment for small-cap stocks. Sector-wise, the IT, Energy, and FMCG sectors experienced declines of 11%, 10.75%, and 7.9%, respectively. On the positive side, PSU Banks have gained over 13% and Financial Services stocks have surged nearly 12%.
Authum Investment & Infrastructure, a Non-Banking Financial Company (NBFC), has emerged as the top performer since last Diwali Muhurat trading day (From November 1, 2024, to October 10, 2024) with returns of 95.74%. The company is engaged in the business of fund-based activities, viz, investment in shares, securities, mutual funds, etc., and providing loans and advances, etc.
In FY25, the company recorded its highest-ever operating income, which increased by 77% to ₹4,612 crore. The net profit stood at ₹4,241.10 crore. The company reported a marginal change of 1.02% in profit after tax in FY 2024-25. The Company’s AUM across the two business verticals demonstrated a 41.5 % growth over the previous financial year. Since then, the stock price has been recording new all-time highs.
Manappuram Finance, a leading NBFC in gold loans, stands as a 2nd best performer from last Diwali, recording gains of 78.56%. Manappuram Finance is a Non-Banking Finance Company (NBFC), which provides a wide range of fund-based and fee-based services, including gold loans, money exchange facilities, etc.
The company benefits from rising gold prices, which increase customers’ borrowing capacity and support loan growth. The company faced a setback when the RBI banned its microfinance subsidiary, Asirvad. The ban was lifted in January 2025, and the gold loan portfolio continues to grow. The share price of the company has jumped by over 52% on a year-to-date basis.
L&T Finance is an NBFC, offering a range of financial products and services. Since the last Diwali of 2024, the L&T Finance share price has soared by 73.80%.
Recently, L&T Finance has reported significant growth in its retail business for Q2 FY25, highlighting its strong position in retail lending and positive momentum in consumer credit demand. The company’s retail disbursements reached ₹18,850 crore, marking a year-on-year growth of 25%, while its retail loan book stood at ₹1,04,500.00 crore, up 17% compared to the same period last year.
JSW Holdings is a core investment company (CIC) and is primarily engaged in the business of investing and financing. It has delivered returns of 73.39% since last Diwali Muhurat trading day.
The stock performance has been driven by its role as a holding company for the JSW Group and benefiting from growth and high valuations of underlying businesses, sector tailwinds in steel, and capital market rotation into holding companies. For FY 2025, the company reported operating revenue of ₹248 crore and a profit after tax of ₹195.82 crore, supported by a strong balance sheet with total assets of ₹34,407 crore.
Laurus Labs, a research-driven pharmaceutical and biotechnology company, is ranked as the fifth top-performing stock from the Diwali Muhurat trading day with 69.52% gains. The company develops and manufactures active pharmaceutical ingredients for therapeutic areas of anti-retrovirals and hepatitis C.
Laurus Labs has gained in 2025 primarily due to strong financial performance and growth in its Contract Development and Manufacturing Organization (CDMO) business segment. In the April to June 2025 quarter (Q1FY26), Laurus Labs reported a 31% year-on-year revenue increase to ₹1,570 crore and a remarkable 1,154% jump in net profit to ₹163 crore. The EBITDA margins expanded significantly due to better operating leverage and a favorable product mix. The CDMO segment grew robustly, with quarterly run rates doubling in two years and contributing about 28% of revenue, up from 13%.
From Muhurat Trading day of Diwali 2024 to Diwali 2025(as of October 10), while broader indices like Nifty 50 and Sensex posted modest gains, select stocks delivered exceptional returns. The Strong fundamentals, robust business performance, sector tailwinds, and strategic growth initiatives drove these stocks.
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