Coal India, NTPC Lead 360 ONE Capital’s Top 8 Stock Picks for October 2026

360 ONE Capital Research has released its updated list of preferred stocks for October 2026, selecting eight companies it views as promising investment opportunities. The portfolio includes familiar heavyweights such as Coal India, NTPC, ITC, along with five other firms. Each stock comes with a target price and a detailed rationale supporting the buy call from the brokerage.

Coal India tops the list with a target price of Rs 516. The research team expects coal demand to strengthen as thermal power plants rebuild their inventories. Continued robust thermal generation combined with higher e-auction premiums amid a tight supply-demand situation should improve coal realizations and margins. This outlook is significant given Coal India’s dominant role in the Indian coal industry and its influence on energy supply chains.

ICICI Bank is another key pick, assigned a target price of Rs 1,800. The brokerage notes strong credit growth prospects alongside a solid liability base that is likely to support both loan and deposit expansion through fiscal years 2026 to 2028. They highlight asset quality and credit costs as expected to remain stable. Additionally, the bank’s increasing share of loans on the external benchmark lending rate (EBLR) is anticipated to ease margin pressures.

For ITC, the target price is set at Rs 440. Despite recent tax hikes that have dampened cigarette volume, the firm’s pricing power is expected to offset volume declines. The brokerage points to phased price increases in leading brands as a strategy that should sustain revenue. ITC’s diversified business model continues to provide stability amid regulatory challenges.

NTPC holds a target price of Rs 455. The company is projected to benefit from rising power demand and an improvement in coal-based plant load factors (PLF), which will likely boost electricity generation and sales. NTPC’s expanding renewable energy portfolio and its long-term plans to diversify into nuclear power add to its growth prospects, reflecting broader trends in India's energy transition.

Aurobindo Pharma is recommended with a target of Rs 1,840. Growth drivers include the company’s subsidiaries and partnerships such as Eugia, PenG, Lannett, and Theranym, which support robust earnings before interest, taxes, depreciation, and amortization (EBITDA) margins projected at 23-24 percent or higher. The brokerage expects the company’s US revenue to reach around US$2 billion within the coming years, reinforcing its presence in the global pharmaceuticals market.

SBI Life Insurance Company features with a target price of Rs 2,380. Margins are anticipated to normalize as the product mix improves and the impact of GST input tax credit (ITC) fades starting from the third quarter. The company’s growth is supported by strong retail annualized premium equivalent (APE) expansion, agency and bancassurance channels outside of SBI Bank, and new product launches, all contributing to expected mid-teen percentage growth.

The Supreme Industries has a target price of Rs 4,661. The brokerage highlights strong volume growth driven by demand for plumbing products, alongside a likely revival in rural and infrastructure sectors. Additional growth avenues include capacity expansion, a broader range of stock keeping units (SKUs), enhanced distribution networks, and value-added products, positioning the company well for medium- to long-term success.

Lastly, Jindal SAW is recommended with a target price of Rs 423. Execution improvements are expected from the third quarter of fiscal year 2027 due to alternative logistics solutions, increased US coating capacity, and potential orders outside the Gulf Cooperation Council (GCC) region. Rising capacity utilization, a solid order book, and new project wins underpin the positive outlook.

These recommendations come amid a broader investment environment where energy, banking, pharmaceuticals, and manufacturing sectors continue to adapt to regulatory changes, market demand shifts, and technological advancements. Investors considering these stocks should review the original research reports from 360 ONE Capital and carefully assess their own financial goals and risk tolerance before making investment decisions.

Disclosure: The views presented are from the respective SEBI-registered research analysts and have been reproduced with attribution. The author Kumar Gaurav is not a SEBI-registered analyst and holds no financial interest in the companies mentioned.