Mumbai: Stocks of ICICI Bank and L&T have been recommended as the top Muhurat session picks by a leading brokerage house.

According to Centrum Capital, on a standalone basis, ICICI Bank can achieve 1.5 per cent ROA and 15 per cent ROE by FY21E.

“Moreover, reduction of tax rate to 25 (per cent) will help it achieve faster recovery and upgrades in NPA, lower credit cost as well as higher loan book growth in wholesale side and higher EPS growth going forward.”

Other top stock picks are Larsen & Toubro, Page Industries, Prestige Estates and VIP Industries.

The special Muhurat trading session, held every year on Diwali day, is considered to be auspicious for stock market trading. The trading during the special session will commence from 6.15 p.m. and end at 7.15 p.m. on Sunday, October 27.

It is believed that the Muhurat trading on this day brings wealth and prosperity throughout the year.

This ritual has been observed for ages by the trading community.

The Indian equity market will be closed on Monday, October 28, to mark Diwali Balipratipada.