Dalal Street investors looking to build or diversify their portfolios this Diwali have 58 stock ideas to consider, curated by eight brokerages: Anand Rathi, Geojit, JM Financial, Axis Direct, SMIFS, Motilal Oswal Wealth Management, ICICI Direct and SBI Securities.Spanning sectors such as banking, defence, capital goods, pharmaceuticals, IT, automobiles and hospitality, the recommendations feature a mix of established market leaders and emerging growth opportunities.

While some stocks find favour across multiple brokerages, their target prices point to varying upside potential.Which stocks are finding favour across brokerages?Eternal, Larsen & Toubro (L&T) and Indian Hotels Company are the most widely recommended stocks, featuring in four brokerage portfolios each.Eternal has been picked by Geojit, JM Financial, Axis Direct and Motilal Oswal Wealth Management.

L&T features in the recommendations of Geojit, JM Financial, SMIFS and Motilal Oswal Wealth Management.Indian Hotels Company, meanwhile, has been included in the portfolios of Geojit, Axis Direct, ICICI Direct and SBI Securities.Live EventsKotak Mahindra Bank is another recurring recommendation, appearing in the portfolios of Geojit, Motilal Oswal Wealth Management and ICICI Direct.Other stocks featuring in more than one brokerage portfolio include ICICI Bank, Tech Mahindra, Tata Steel and Adani Ports.Which stocks have the highest upside potential?Among the brokerages that have disclosed target prices and estimated upside potential, SMIFS has identified some of the highest-return opportunities in its Diwali portfolio.TVS Supply Chain Solutions tops the list, with a target price of Rs 240 against a current market price (CMP) of Rs 111, indicating a potential upside of 116%.Swiggy follows with an estimated upside of 104%, based on a target price of Rs 375 against a CMP of Rs 184.Mazagon Dock Shipbuilders has a target price of Rs 2,905 compared with its CMP of Rs 1,731, implying an upside potential of 68%.

Olectra Greentech carries a target price of Rs 1,500 against a CMP of Rs 985, indicating an upside of 52%.ITC is another SMIFS recommendation, with a target price of Rs 360 against a CMP of Rs 259, translating into a potential upside of 39%.ICICI Direct, Axis Direct and SBI Securities' stock recommendationsICICI Direct has also identified several stocks with significant upside potential in its Diwali portfolio.Venus Pipes and Tubes leads its recommendations, with an estimated upside of 34% based on a target price of Rs 2,340 against a CMP of Rs 1,750.Neogen Chemicals follows with a projected upside of 32%, while Info Edge has an estimated upside potential of 28%, with a target price of Rs 1,530 against a CMP of Rs 1,192.Axis Direct's recommendations include DCB Bank and Elecon Engineering Company, both carrying an estimated upside potential of 20%.Nephrocare Health Services has an estimated upside of 19%, while Coforge offers a projected upside of 18%, according to the brokerage's target prices.SBI Securities has assigned the highest upside potential in its list to Sambhv Steel at 22%.

Lumax Industries follows with an estimated upside of 20.7%, while Genus Power carries a projected upside of 19.4%. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution.

They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here(You can now subscribe to our ETMarkets WhatsApp channel)