Buy 3 Quality Stocks With High Potential Of Short Term Gain: ICICI Direct Recommends

Investing in equities requires a better appetite for risk. Here, three large cap, mid cap, and small cap stocks have been suggested by ICICI Direct, to invest in for good returns.

AIA Engineering

The current market price of AIA Engineering is Rs. 2,496/ share, and ICICI Direct has estimated a target price for the stock at Rs. 3010/share, and given a buy rating, with 20% potential return. The firm mentioned, "We like AIA Engineering in our capital goods coverage. AIA Engineering (AIA) is India's largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings. Buy with a target price of Rs. 3010, that is, 35x P/E on FY24E EPS." Its share price has surged by 40.81% in the last 6 months. It is a large cap stock with a market capitalization of Rs. 23,697.

Jindal Stainless

The current market price of Jindal Stainless is Rs. 125.55/ share, and ICICI Direct has estimated a target price for the stock at Rs. 135/share, and given a buy rating, with 20% potential return. "In our metal coverage, we like Jindal Stainless. Jindal Stainless (JSL) has a 1.1 million tonnes per annum (MTPA) integrated facility with backward integration, Buy with a target price of Rs. 135," the brokerage firm said. Its share price has surged by 9.51% in the last 1 month. It is a mid cap stock with a market capitalization of Rs. 6,618.

CSB Bank

The current market price of CSB Bank is Rs. 208.30/ share, and ICICI Direct has estimated a target price for the stock at Rs. 250/share, and given a buy rating, with 20% potential return. The firm stated, "In our coverage we also like CSB Bank. CSB Bank is a south based private sector bank with Kerala contributing ~48% of total business. Changed strategy in various aspects of lending has led to transformation and improved performance in the past few years. Buy with a target price of Rs. 250." Its share price has fallen by 5.49% in the last 1 month. It is a small cap stock with a market capitalization of Rs. 3,605.

Return comparison of stocks - NSE

In this table the Current Market Price (CMP) and the Target Price (TP) of the recommended stocks have been mentioned.

Company	CMP	Target Price	1 Year Potential Return
AIA Engineering	Rs. 2,496	Rs. 3010	20.59%
Jindal Stainless	Rs. 125	Rs. 135	8.00%
CSB Bank	Rs. 208.30	Rs. 250	20.19%

Disclaimer

The above stocks were picked from the brokerage report of ICICI Direct. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.