2 Midcap Stocks To Buy For High Returns, Suggested By ICICI Direct

Indian stock markets have been sharply down today. Nifty was down to 17,542.80 points, falling by 1.22% in the intra day trading. However, the Reputed brokerage firm ICICI Direct has recommended these two stocks to Buy For High Returns.

Stock recommendation

Easy Trip Planners

"We like Easy Trip Planners. It is a fast-growing company in the tourism space and has a strong b/s. Buy stock with a target price of Rs. 490/share," ICICI Direct stated.

Bharat Dynamics

"We like Bharat Dynamics (BDL) in the defence space. Strong earnings growth of ~25% CAGR expected over FY22-24E led by execution of existing strong order-book primarily comprising manufacturing of various types of indigenous missiles & torpedoes, Buy with a target price of Rs. 1070/share," stated ICICI Direct

Current market price and target price

The current market price of Easy Trip is Rs. 382.50/ share, and ICICI Direct has estimated a target price for the stock at Rs. 490/share, with a 20.30% potential return, and has given buy rating. It is a large cap stock with a market capitalization of Rs. 8,283 crore. The PSU company is offering a high dividend yield of 0.26%.

The current market price of BDL is Rs. 830/share, and ICICI Direct has estimated a target price for the stock at Rs. 1070/share, with a 28.91% potential return, and given buy rating. It is a large cap stock with a market capitalization of Rs. 15,228 crore. The PSU company is offering a high dividend yield of 1.00%.

Return comparison from 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
Easy Trip	Rs. 382	Rs. 490	28.27%
Bharat Dynamics	Rs. 830	Rs. 1070	28.91%

Company Profile - Easy Trip

EaseMyTrip commenced its operations in 2008 by focusing on the B2B2C (business to business to customer) distribution channel and providing travel agents access to its website to book domestic travel airline tickets in order to cater to the offline travel market in India. Their user-friendly websites and android and iOS-based mobile applications are the company's strengths.

Company Profile - Bharat Dynamics

Bharat Dynamics Limited (BDL), was incorporated in 1970 as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces. Since its inception, BDL has been working in collaboration with DRDO and foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces.

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.