From Tata Steel To SAIL, ICICI Securities Bets On These 4 Metal Stocks For High Gains Up To 84%

Broking firm ICICI Securities in its Metal & Mining sector Equity Research report came up with Buy & Add calls on 4 quality Stocks from metals. The brokerage maintains Buy on Jindal Steel & Power Ltd. (JSPL) and Shyam Metalics and Energy Ltd. while it initiates Add on Steel Authority of India Ltd. (SAIL) and Tata Steel Ltd. The brokerage sees a potential upside upto 84% from stock' current level. Check below to know more:

Add - Steel Authority of India Ltd. (SAIL)

ICICI Securities initiates Add on the stock of SAIL with Rs.92/share target price. With the given target price, the stock is likely to give 11% gains if purchased at the current market price. The stock is currently trading at Rs. 83.20/share on NSE. The stock jumps 9.91% in 1 year, 149.1% in 3 years, and 7.63% in 5 years, respectively.

Recommended Dividend

The company in its Board meeting held on May 25, 2023, recommended a final dividend at Rs. 0.50/share of Rs. 10/share i.e. 5% for the Financial Year 2022-23.

Add - Tata Steel Ltd.

The brokerage has assigned an Add rating on Tata Steel with a Target Price of Rs. 120/share, claiming an 11% potential upside from its current level. The stock's current market price is Rs. 109/share on NSE. It gave 1.1% positive return in 1 year. In the past 3 years, it gave 221.58% positive return and 88.01% in the past 5 years, respectively.

Buy - Jindal Steel & Power Ltd. (JSPL)

The brokerage initiated Buy on JSPL with a target price of Rs 750/share. It sees a robust 44% upside from its current level. The stock is currently trading at Rs. 523.05/share on NSE. It has given 41.33% positive gains in 1 year. It gave 259.61% positive return in 3 years and 122.67% positive return in 5 years.

Recommended Dividend

JSPL in its Board meeting held on May 16, 2023, recommended a final Dividend of Rs. 2/share of face value Re. 1 each i.e. 200% for the financial year 2022-23.

Buy - Shyam Metalics and Energy Ltd.

The brokerage has assigned a Buy rating on Shyam Metalics & Energy with a target price of Rs. 570/share. If you buy the stock at the current market price, it can fetch up to 84% robust return. The stock rallies 5.89% closing at Rs. 311.20/share on NSE. It rises 3.96% in 1 month, and 10.83% in 3 months, respectively. It jumped 2.45% in 1 year.

Disclaimer - The stocks have been picked from the brokerage reports 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 consult with certified experts before making any investment decision.