This Samvat 2082, earnings visibility remains strong, supported by healthy credit growth, a manufacturing rebound, and infrastructure spending, driving broad-based profitability. Market valuations are reasonable at around 19–20 times one-year forward Nifty earnings, though mid and small caps may consolidate after recent gains. Liquidity and sentiment are expected to remain positive, backed by domestic savings, government spending, and a resilient banking system. While short-term volatility from geopolitical events and commodity swings is possible, India’s domestic growth, policy stability, and earnings strength support a constructive medium-term outlook. Here are 5 stocks that Nuvama thinks can give meaningful returns this Diwali.