8 small, midcap stocks with upside potential of up to 50%. How many are in your portfolio?

Following an eight-week losing streak in the Nifty, its first such run since 2001, domestic brokerage PL Capital remains cautious on the near-term market outlook. The brokerage does not expect a V-shaped recovery and does not rule out a further decline before the market enters a consolidation phase. The brokerage said the Nifty is currently trading at 15.5 times its one-year forward earnings, a 19.3% discount to its 15-year average price-to-earnings multiple of 19.2 times.

Here are 8 small, midcap stocks the brokerage is bullish on. Amber Enterprises India has a CMP of Rs 6,690 and a target price of Rs 9,234, indicating an upside of 38%. The company manufactures air-conditioning and other consumer durable components. Aster DM Quality Care has a CMP of Rs 683 and a target price of Rs 920, indicating an upside of 35%. The company operates hospitals and provides healthcare services.

Blue Star has a CMP of Rs 1,574 and a target price of Rs 1,797, indicating an upside of 13%. The company provides air-conditioning, refrigeration and commercial cooling solutions. CESC has a CMP of Rs 136 and a target price of Rs 204, indicating an upside of 50%. The company is engaged in power generation and distribution. Healthcare Global Enterprises has a CMP of Rs 589 and a target price of Rs 820, indicating an upside of 39.2%.

The company operates cancer care centres and provides specialised oncology services. Ingersoll-Rand (India) has a CMP of Rs 4,098 and a target price of Rs 5,029, indicating an upside of 23%. The company manufactures industrial air compressors and related equipment. Jindal Stainless has a CMP of Rs 725 and a target price of Rs 867, indicating an upside of 19.50%. The company manufactures stainless steel products.

Mahindra Logistics has a CMP of Rs 412 and a target price of Rs 527, indicating an upside of 28%. The company provides integrated logistics and supply chain management services.