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2 Stocks To Sell From Defence Sector: ICICI Securities Assigns Sell Rating To 2 Multibagger Stocks
ICICI Securities has assigned sell call to 2 stocks from defence space. These 2 stocks are Mazagon Dock Shipbuilders Ltd (MDSL) and Garden Reach Shipbuilders And Engineers Limited (GRSE). The analyst has recommended investors to sell MDSL with a target price of Rs 575 and GRSE with a target price of Rs 390 apiece, respectively.
According to the brokerage, "We maintain SELL on MDSL (TP: Rs575) and GRSE (TP: Rs390) owing to earnings peaking out by FY25."
1. Sell Mazagon Dock Shipbuilders Ltd
The last trading price of Mazagon Dock is Rs 852 apiece with an intraday dip of 3.37%. The 52-week high of the stock is Rs 913 apiece and 52-week low is Rs 224 apiece, respectively. The company has a market capitalisation of Rs 17,183 crore.
The stock has given multibagger returns in the last 5-years. It has given 395% return in last 5-years, 201% return in last 1-year and 208% return in last 6-months. The company was incorporated in 1934 and operates in Defence sector.
According to ICICI Securities, sell the stock with a target price of Rs 575 apiece.
Mazagon Dock Shipbuilders Limited, aptly called "Ship Builder to the Nation", is one of India's leading Defence public sector undertaking shipyard under the Ministry of Defence. Main activities are construction of warships and submarines with facilities situated at Mumbai and Nhava (under development), according to its official website.
2. Sell Garden Reach Shipbuilders And Engineers Limited
The last trading price of the stock is Rs 491 apiece after an intraday decline of 2.86%. The stock's 52-week high is Rs 539 apiece and 52-week low is Rs 199 apiece, respectively. The company has a market capitalisation of Rs 5625 crore.
The stock operates in Defence sector and the company came into existence in 1934. The stock has given 375% in last 5-years, 102% in last 1-year, and 83% in last 6-months. In last 3-months, the stock has jumped 77%.
ICICI Securities has assigned sell call to the stock with a target price of Rs 390 apiece.
The Company was acquired by the Government of India in the year 1960. The 1st warship of Independent India, INS Ajay was delivered to the Indian Navy in 1961, within one year of being taken over by the Ministry of Defence. GRSE, a Mini Ratna Category 1 Company has so far delivered 107 warships to Indian Navy, Indian Coast Guard, Mauritius Coast Guard and Seychelles Coast Guard & is the only shipyard to achieve this Centennial Mark, according to its official website.
Disclaimer
The stocks have been picked from the brokerage report of ICICI Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
