As of Monday, October 7, 2024, the Indian stock market opened on a mixed note, but by the afternoon, both the Sensex and Nifty indices were trading in the red. The Sensex saw a drop of over 600 points, falling to 81,083, and the Nifty slipped by 250 points, trading around 24,780. The losses were driven by selling pressure in mid and small-cap stocks.

Amidst this volatile environment, several stocks continue to show strong growth potential. Below are six stocks recommended by brokerages, with potential upsides ranging up to 40%:

1. KPIT Technologies Ltd
KPIT Technologies, a global leader in automotive technology, started Friday’s trading session with its share price slightly below the previous close at ₹1,674.10. During the day, it reached a high of ₹1,697.40 before closing at ₹1,691. International brokerage JPMorgan has upgraded its rating from 'neutral' to 'overweight' and raised its target price to ₹2,000. This new target suggests a potential upside of around 20% from its current market value.

2. Hero MotoCorp Ltd
Hero MotoCorp, the world’s largest motorcycle manufacturer, saw its shares open lower at ₹5,647.05, compared to its previous close of ₹5,662.75. During the day, the shares hit a low of ₹5,484 and ended the session at ₹5,520. Trade Brains analysts have set a ‘Buy’ recommendation on Hero MotoCorp, with a target price of ₹6,700. This indicates a possible upside of around 21% from the current level.

3. State Bank of India (SBI)
State Bank of India (SBI), the country’s largest public-sector bank, opened Friday’s session at ₹792, slightly below its previous close of ₹794.10. The stock reached a high of ₹809.85 before closing at ₹796. JP Morgan has retained its 'overweight' rating on SBI, with a price target of ₹1,000, signaling a potential upside of 26%.

4. Skipper Ltd
Skipper Ltd, a company specializing in Transmission and Distribution Structures, saw its shares begin the day at ₹479, just above the previous close of ₹476.80. The stock reached a high of ₹488 before ending the session at ₹483. Axis Securities has placed a 'Buy' rating on Skipper, with a target price of ₹600, which suggests an upside of approximately 24%.

5. V2 Retail Ltd
V2 Retail, a prominent player in the retail sector, started trading at ₹1,390, higher than its previous close of ₹1,377.55. The stock recorded a fresh 52-week high of ₹1,430 during the session but closed at ₹1,369. Edelweiss has recommended a 'Buy' rating with a target of ₹1,754, which represents a 28% potential upside.

6. Adani Energy Solutions Ltd
Adani Energy Solutions, focused on power transmission solutions, opened Friday’s session at ₹1,016. It dropped to a low of ₹955 during the day and closed at ₹962. ICICI Securities has issued a 'Buy' recommendation for Adani Energy Solutions with a target price of ₹1,318, forecasting a 37% upside from its current market price.