Buy, Add 4 Stocks From Metal Sector For 116% Return, Recommends ICICI Securities

ICICI Securities has suggested investors to buy and add 4 stocks from metal sectors for higher return. These stocks are Tata Steel, Shyam Metalics and Energy Ltd, APL Apollo Tubes Ltd, and Jindal Steel & Power Ltd. According to the analyst, "We do see the possibility of demand rise with the onset of peak construction season in China from Apr'23. Demand optimism in China keeps us positive on the ferrous space." If you buy and add these stocks now, you can get potential return of 116% return. Check
details below:

1. Buy Jindal Steel & Power Ltd: ICICI Securities has suggested investors to buy Jindal Steel & Power Ltd with target price of Rs 750 apiece. Current market price of Jindal Steel & Power Ltd is Rs 545.40 apiece with intraday gain of 1.51%. If you buy Jindal Steel & Power share now at last trading price, you can fetch potential upside of 38%. The stock's 52-week high is Rs 622.40 apiece and 52-week low price is Rs 304.20 apiece, respectively. The mid cap company has a market capitalisation of Rs 55,635.60 crore. It gave return of 30% in last 6-months, 2% in last 1-year, 68% in last 2-years, and 514% return in last 3-years.

2. Buy Shyam Metalics and Energy Ltd: The analyst has suggested investors to buy Shyam Metalics and Energy with target price of Rs 570 apiece. Last trading price of the small cap metal sector stock is Rs 264 apiece on BSE. If you buy Shyam Metalics and Energy Ltd at last trading price, you can fetch potential return of 116%. The stock's 52-week high price is Rs 377.80 apiece and 52-week low price is Rs 253.05 apiece, respectively. The company's market capitalisation is Rs 6,745.61 crore.
The stock declined 28% in last 1-year and 7% in last 6-months.

3. Add Tata Steel: The brokerage house has assigned add call to Tata Steel with target price of Rs 120 apiece. Last trading price of Tata Steel is Rs 103.60 apiece with intraday jump of 1.07%. If you add the stock now, you can get 17% return. The stock's 52-week high price is Rs 138.63 apiece and 52-week low price is Rs 82.71 apiece, respectively. The company's market capitalisation is Rs 1,26,598.25 crore. The stock fell 22% in last 1-year, gave return of 35% in last 2-years, and 273% in last
3-years.

4. Buy APL Apollo Tubes Ltd: ICICI Securities has given buy rating to APL Apollo with target price of Rs 1375 apiece. Last trading price of the stock is Rs 1205.60 apiece with intraday gain of 0.64%. If you buy APL Apollo share, you can get potential return of 14%. The mid cap stock gave return of 32% return in last 1-year, 80% return in last 2-years, and 846% return in last 3-years. In last 5-years, it soared 504%. Its market capitalisation is Rs 33,435.00 crore.

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.