4 Smallcap Muhurat Trading Stocks to Watch for Future Multibagger Potential: Kalpataru Projects, Force Motors, Engineers India and VA Tech Wabag

Muhurat trading stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Kalpataru Projects, Force Motors, Engineers India and VA Tech Wabag meet that test, with market caps from Rs 10,610 crore to Rs 23,718 crore and Kalpataru Projects offering the largest market cap at Rs 23,718 crore. Each of these companies has a market capitalisation below Rs 30,000 crore and a return on equity of at least 12 per cent, profit growth of at least 10 per cent in FY26 and in the latest quarter and a positive one-year return, and net profit rose in FY26 and in the latest quarter.

This list covers companies with a market capitalisation below Rs 30,000 crore and a return on equity of at least 12 per cent, profit growth of at least 10 per cent in FY26 and in the latest quarter and a positive one-year return, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap below Rs 30,000 crore. Investors screening muhurat trading stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 23 October 2026 and are drawn from NSE and BSE data and company filings.

Click Here – Get Free Investment Predictions

What Are Muhurat Trading Stocks and Why Do They Attract Multibagger Interest?

Muhurat trading stocks are shares of smaller companies that are popular picks for the symbolic one-hour Diwali evening session, chosen here for steady profit growth and healthy returns. The four here cover engineering and construction, utility vehicles, engineering consultancy and water treatment.

Muhurat trading is a symbolic start to the new Samvat, so it suits quality names with real earnings. For muhurat trading stocks, both FY26 and the latest quarter showed growth. With muhurat trading stocks, comparing valuation, growth and balance sheet strength together works better than relying on one number. Every company in the table below passed a rising-profit check, and the figures for muhurat trading stocks are complete. Read each company's latest results and exchange filings before acting on muhurat trading stocks.

Muhurat Trading Stocks at a Glance: Price, Market Cap, PE and ROE

Prices are closing prices as of 23 October 2026. Force Motors combines the lowest PE of the group, 18.06, with the highest return on equity, 25.19%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Debt to Equity	52-Week Range (Rs)
Kalpataru Projects International	1,291.60	23,718	21.02	22.89	13.37%	0.46	1,007.10 to 1,490.00
Force Motors	16,400	22,618	18.06	23.62	25.19%	0.00	15,982.00 to 26,450.00
Engineers India	242.50	15,715	20.04	22.89	21.98%	0.01	163.55 to 321.40
VA Tech Wabag	1,710.40	10,610	26.92	22.80	14.42%	0.09	1,033.00 to 2,319.00

Kalpataru Projects: Revenue Up 21.76% in FY26

Kalpataru Projects International executes transmission, railway, building and water projects in India and abroad. It reported FY26 revenue of Rs 27,247.93 crore, up 21.76% year on year, and net profit of Rs 1,030.63 crore, up 81.68%. Net profit has compounded at 17.81% a year since FY22, while revenue has grown 16.35% a year. Operating margin was 9.48% in FY26. The debt-to-equity ratio is 0.46.

In the June 2026 quarter, revenue rose 4.81% to Rs 6,485.17 crore and net profit grew 45.85% to Rs 311.53 crore. The stock trades at a PE of 21.02 against an industry PE of 22.89, below the sector average, with a return on equity of 13.37%.

Force Motors: Return on Equity of 25.19%

Force Motors makes commercial vehicles such as the Traveller and Gurkha and supplies engines and axles to other automakers. It reported FY26 revenue of Rs 9,167.51 crore, up 12.79% year on year, and net profit of Rs 1,211.75 crore, up 51.31%. Revenue has compounded at 29.18% a year since FY22. Operating margin was 17.59% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.

The stock trades at a PE of 18.06 against an industry PE of 23.62, below the sector average, with a return on equity of 25.19%. In the June 2026 quarter, revenue rose 6.71% to Rs 2,478.11 crore and net profit grew 22.81% to Rs 216.59 crore. The share price has gained 1046.45% over five years. Promoters hold 61.63%, which keeps ownership stable.

Engineers India: Revenue Up 26.95% in FY26

Engineers India provides engineering consultancy and project management services to the oil, gas, petrochemical and infrastructure sectors. It reported FY26 revenue of Rs 4,123.24 crore, up 26.95% year on year, and net profit of Rs 691.59 crore, up 19.29%. Net profit has compounded at 19.17% a year since FY22, while revenue has grown 7.89% a year. Operating margin was 23.96% in FY26. The debt-to-equity ratio is 0.01, which keeps interest costs low.

Net profit for the June 2026 quarter grew 117.04% to Rs 157.94 crore. The share price has gained 248.24% over five years and 38.39% over the past year. Domestic institutions raised their holding from 13.75% in September 2025 to 16.61% in September 2026. The stock trades at a PE of 20.04 against an industry PE of 22.89, below the sector average, with a return on equity of 21.98%. The dividend yield is 1.79%.

VA Tech Wabag: 29.36% Profit CAGR Since FY22

VA Tech Wabag designs and builds water and wastewater treatment plants, desalination plants and recycling systems for cities and industry. It reported FY26 revenue of Rs 4,038.50 crore, up 20.96% year on year, and net profit of Rs 369.80 crore, up 25.44%. Net profit has compounded at 29.36% a year since FY22, while revenue has grown 7.61% a year. Operating margin was 14.39% in FY26. The debt-to-equity ratio is 0.09, which keeps interest costs low.

The stock trades at a PE of 26.92 against an industry PE of 22.80, with a return on equity of 14.42%. In the June 2026 quarter, revenue rose 25.96% to Rs 938.80 crore and net profit grew 36.93% to Rs 90.10 crore. The share price has gained 462.01% over five years and 34.66% over the past year. Domestic institutions raised their holding from 3.67% in June 2025 to 6.33% in June 2026.

Muhurat Trading Stocks: Financial Comparison on Growth and Margins

The table compares scale and growth across these muhurat trading stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.

Stock	Revenue (Rs Cr)	Net Profit (Rs Cr)	Revenue Growth (YoY)	4-Year Revenue CAGR	Net Profit Growth (YoY)	Operating Margin (Latest Quarter)
Kalpataru Projects	27,247.93	1,030.63	21.76%	16.35%	81.68%	9.97%
Force Motors	9,167.51	1,211.75	12.79%	29.18%	51.31%	15.19%
Engineers India	4,123.24	691.59	26.95%	7.89%	19.29%	25.26%
VA Tech Wabag	4,038.50	369.80	20.96%	7.61%	25.44%	15.45%

Check the Univest Screener for live data on these muhurat trading stocks

Institutional Holding in Kalpataru Projects, Force Motors, Engineers India and VA Tech Wabag

Institutional holding shows who is backing these muhurat trading stocks alongside the promoter. The table uses the latest reported quarter for each. Kalpataru Projects has the deepest institutional backing, with FII and DII together holding 55.61% as of June 2026. Domestic institutions increased their holding over the past year in Engineers India (from 13.75% to 16.61%) and VA Tech Wabag (from 3.67% to 6.33%).

Stock	Promoter	FII	DII	Public	Quarter
Kalpataru Projects	33.58%	10.78%	44.83%	10.81%	June 2026
Force Motors	61.63%	9.52%	1.46%	27.39%	June 2026
Engineers India	51.32%	8.09%	16.61%	23.98%	September 2026
VA Tech Wabag	19.08%	18.26%	6.33%	56.34%	June 2026

Risks to Weigh in Muhurat Trading Stocks

Being careful with muhurat trading stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:

• Past growth may not repeat.
• Share prices can move sharply in either direction.
• Valuation: VA Tech Wabag trades at a PE of 26.92 against an industry PE of 22.80, so earnings need to keep growing to support the price.
• Concentration: Holding all 4 names puts the allocation in one sector, so size each position to match your risk appetite.

How to Choose Between Muhurat Trading Stocks

Picking from muhurat trading stocks comes down to four checks, applied in order.

1. Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.
2. Compare each PE with the industry PE (22.80 to 23.62) and ask whether the growth rate justifies any gap.
3. Track net profit growth, the operating margin and the return on equity in every quarterly result.
4. Stagger entries across quarters and review institutional holding every reporting season.

Download the Univest iOS App or Univest Android App to track Kalpataru Projects, Force Motors, Engineers India and VA Tech Wabag live prices.

Conclusion

Among muhurat trading stocks, Kalpataru Projects stands out for the largest market cap at Rs 23,718 crore, Force Motors for the highest return on equity at 25.19%, Engineers India for the strongest latest-quarter profit growth at 117.04% and VA Tech Wabag for the fastest profit growth, 29.36% a year since FY22. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing muhurat trading stocks should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.

Frequently Asked Questions on Muhurat Trading Stocks to Watch

Which are the best muhurat trading stocks to watch for multibagger potential?

Ans. Kalpataru Projects, Force Motors, Engineers India and VA Tech Wabag are the 4 names this list highlights, with market caps of Rs 23,718 crore, Rs 22,618 crore, Rs 15,715 crore and Rs 10,610 crore respectively. Kalpataru Projects is notable for the largest market cap at Rs 23,718 crore. Force Motors stands out for the highest return on equity at 25.19%. Engineers India offers the strongest latest-quarter profit growth at 117.04%. VA Tech Wabag brings the fastest profit growth, 29.36% a year since FY22. These are watchlist names for muhurat trading stocks, not recommendations, so match each one to your own risk profile and time horizon.

Is Force Motors a good stock for long-term investors?

Ans. Force Motors has a return on equity of 25.19%, a PE of 18.06 against an industry PE of 23.62 and a market cap of Rs 22,618 crore. FY26 revenue rose 12.79%, and June 2026 quarter net profit grew 22.81%. Long-term returns in muhurat trading stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can VA Tech Wabag become a multibagger from here?

Ans. VA Tech Wabag has already gained 462.01% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in muhurat trading stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 29.36% a year since FY22, and FY26 revenue rose 20.96%. At a PE of 26.92 against an industry PE of 22.80, valuation should be checked against that growth before investing.

What is the market cap of Kalpataru Projects, Force Motors, Engineers India and VA Tech Wabag?

Ans. As of 23 October 2026, Kalpataru Projects has a market cap of Rs 23,718 crore, Force Motors has a market cap of Rs 22,618 crore, Engineers India has a market cap of Rs 15,715 crore and VA Tech Wabag has a market cap of Rs 10,610 crore. All of them qualify as smallcaps. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on muhurat trading stocks.

What are the risks of investing in muhurat trading stocks?

Ans. The main risks are market swings, slower growth than expected and valuations that already reflect good news. Companies with strong balance sheets and steady earnings handle these better. VA Tech Wabag trades at a PE of 26.92 against an industry PE of 22.80, so earnings growth needs to hold up.

Is Force Motors trading below its industry PE?

Ans. Force Motors trades at a PE of 18.06 against an industry PE of 23.62. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (FY26 revenue rose 12.79% and June 2026 quarter net profit grew 22.81%) and balance sheet strength before drawing a conclusion.

How much do institutions hold in Kalpataru Projects, Force Motors, Engineers India and VA Tech Wabag?

Ans. As of the latest reported quarter, FII and DII together hold 55.61% of Kalpataru Projects (10.78% and 44.83%), 10.98% of Force Motors (9.52% and 1.46%), 24.70% of Engineers India (8.09% and 16.61%) and 24.59% of VA Tech Wabag (18.26% and 6.33%). Rising institutional holding is a useful signal in muhurat trading stocks, though it should be read with earnings trends rather than on its own.