Do not use ANY stain on it...it will darken it too much and you'll lose sight of the grain.
I did that on my first one and had to completely restrip it and do it all over again. (Lesson #1!!)
Just apply several rubbed in coats of Birchwood Casey's Tru-Oil over the course of a few weekends and it will cause the various highlights in the wood to come out in beautifully different degrees of light & dark grain color.
I use 4-5" squares cut from a washcloth, pour a half teaspoon on the cloth and rub it in till it's about gone, apply some more, etc, until you've got the whole stock covered.
Then have a piece of coat hanger already cut, and straightend out with a couple inch hook bends on each end to hang the stock up with for several days so it gets bone dry...if you get in a hurry, you'll mess up the previous coat and have to start all over with the whole process again (lesson #2!)
After each coat is bone dry, if you can feel any slight texture to the finish, take just a moment with a piece of ultra fine "0000" steel wool and barely slide it over the finish lightly just a very few times...then aplly your next coat.
The number of coats I'm sure is subjective in terms of how a stock is actually coming along but it should be at least several (5-7?) if not more...just depends how much you end up applyting each time and how quickly the pores all get filled up good.
Note: Tru-Oil is not like varnish...you don't want to apply it like varnish or paint.
You literally want to rub each coat in...don't leave any standing on the surface of the wood.
It's softer than varnish, and a surface coat does not dry into a hard shell covering like varnish or polypropelene, etc.
The refinishing is actually not labor intensive and only takes a few minutes each time...it just has to be spaced out over the calendar for several days so each coat gets really bone dry...can't emphasize that enough...especially on your first one, discipline yourself to plan on it spreading out over many, many days.
I settled into a routine of where I would spend 30 minutes rubbing in a good coat on a weekend, then hanging it in a warm dry place all week, did the next coat the following weekend, etc, etc.
You can probably get by with shorter cycles than that but personally I'd let hang in a warm dry heated house at least 3-4 days before touching it again.
I've always been surprised at how striking most TC Hawken wood is once you get the spray-on factory stain/varnish combo off of it...during manufacturing they simply can't spend the labor housrs doing each stock by hand at the prices they sell for.