Buy Tata Stock & Navratna PSU Stock For Higher Return: ICICI Securities

ICICI Securities has recommended investors to buy large cap Tata Group stock, Tata Consultancy Services and Engineers India. Tata Consultancy Services operates in IT software sector and Engineers India is from services sector. Engineers India is a Navratna PSU stock under the Ministry of Petroleum and Natural Gas. Check details below:

1. Buy Engineers India Shares: The analyst has assigned a target price of Rs 174 per share and urged investors to keep the stop loss at Rs 155 per share. Current market price of Engineers India stock is Rs 150.10 apiece with intraday fall of 7.03%. Its 52-week high price is Rs 167.25 per share and 52-week low price is Rs 62.35 apiece, respectively. If you buy Engineers India shares now at current market price of Rs 150, you can fetch likely return of 16%. Engineers India shares has a market capitalisation of Rs 8,436.26 crore.

Engineers India fell 7% in last 1-week, declined again by 3% in last 2-weeks, soared 88% in last 6-months, gained 112% in last 1-year, and offered shareholders return of 135% in last 3-years.

Earlier this year on August 24, it informed on BSE, "This is in furtherance to our disclosure on 18.02.2021, 25.03.2021 and 26.03.2021 regarding acquisition of 4.37% equity stake in NRL. In this regard, this is inform you that the Board of Directors of Engineers India Limited in its Meeting held on 24th August, 2023 have approved to subscribe 1,25,73,627 Equity share (Face Value of Rs. 10 each) at Rs. 110/- per share in the Right Issue Offer of NRL."

The mid cap services sector company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 911.99 crore, down 1.40% as against its last quarter total income at Rs 924.96 crore. It announced its net profit after tax at Rs 116.38 crore in its latest quarter.

Engineers India Limited (EIL) is a Navratna public-sector undertaking of the Government of India under the Ministry of Petroleum and Natural Gas. It was set up in 1965 to provide engineering and related technical services for petroleum refineries and other industrial projects

2. Buy Tata Consultancy Services Shares: Current market price of Tata Consultancy Services share on BSE is Rs 3562.50 per share with intraday gain of 2.39%. ICICI Securities has assigned a target price of Rs 3655 and recommended to keep the stop loss at Rs 3379 per share. If you buy TCS shares at current market price of Rs 3562.50, you can obtain potential gain of 3% The stock's 52-week high price is Rs 3575.00 per share and 52-week low price is Rs 2926.00 per share. Its market capitalisation is Rs 13,03,537.05 crore. TCS shares rallied 5% in last 2-weeks, gained 10% in last 1-year, fell 6% in last 2-years, and soared 75% in last 3-years.

Earlier on July 12 this year, the Directors declared an interim dividend of Rs. 9 per Equity Share of Re. 1 each of the Company. The company fixed July 20, 2023 as the record date for the interim dividend.

The company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 60,778.00 crore, up .73% as against its last quarter total income of Rs 60,337.00 crore. It announced its net profit after tax at Rs 11,120.00 crore in latest quarter.

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.