Diwali Stock Picks Reviewed: Brokerages That Gave Best Recommendations Last Samvat

As the festival of Diwali approaches, brokerage firms have begun rolling out their stock recommendations for the upcoming Samvat. Reflecting on the past year’s picks, brokerage houses delivered varied results, with the average returns spanning widely across firms.

Among recommendations across 15 brokerage houses analysed by NDTV Profit, the top performer, Chola Securities, recorded a 77% average return, with StoxBox close behind at 74%, both significantly outpacing market benchmarks.

• Average returns of most top stock picks beat Nifty 50.

• Top picks' average returns range between 77% to 12%.

• Chola Securities and StoxBox delivered highest average returns.

• Only two brokerage houses saw all recommendations beat Nifty 50.

• 40% of recommendations still below given targets.

The benchmark Nifty 50 saw a 25% rise over the past year, while smaller companies fared even better, with the Nifty Smallcap 250 rising 34.7% over the same period.

Despite the broad-based rally, well-established brokerage houses yielded returns closer to the benchmark, showing limited outperformance.

While several managed to surpass the Nifty 50's gains among large-cap stocks, fewer brokerage firms successfully met the broader market benchmarks.

Seven of the 15 brokerages beat the broader markets' benchmark, while nine managed to beat the large cap index.