ICICI Direct Recommends 2 Chemicals Sector Stocks To Buy For Good Gain Soon

Leading brokerage firm ICICI Direct has recommended investors to buy 2 chemicals sector stocks namely Tata Chemicals and SRF Ltd. If you buy these stocks now, you will receive a good upside potential within a target time of 12 months. SRF Ltd has also declared dividend as well and the record date is February 7, 2023. Check details pertaining to the stocks below:

1. Buy Tata Chemicals

The last trading price of the stock is Rs 969.85 apiece with an intraday gain of 0.29%. ICICI Direct has recommended investors to buy Tata Chemicals Ltd with a target price of Rs 1170 apiece.

If you buy Tata Chemicals now, you will get potential 21% return. The stock's 52-week high is Rs 1214.65 apiece and 52-week low is Rs 773.90 apiece, respectively. The company has a market capitalisation of Rs 24,707.54 crore.

The adjusted PAT of the company was at Rs 391 crore vs. Rs 301 crore in Q3FY23.

The stock rallied 3% in last 1-month, again 3% in last 6-months, and declined 14% in last 3-months. It rallied 30% in last 3-years. The mid cap stock operates in Chemicals sector and came into existence in 1939.

According to ICICI Direct, "We value Tata Chemicals at SOTP valuation to arrive at a revised target price of Rs 1170/share (earlier Rs 1345/share)."

2. Buy SRF Ltd

The last trading price of the large cap stock is Rs 2204.85 apiece. ICICI Direct has given buy call to SRF Ltd with a target price of Rs 2550 apiece. If you buy SRF Ltd now, you will get a likely return of 16%.

The stock has a market capitalisation of Rs 65,357.23 crore. Its 52-week high is Rs 2864.35 apiece and 52-week low is Rs 2002.50 apiece, respectively. The stock declined 13% in last 3-months and 9% in last 1-year.

In last 3-years, it rallied 191% in last 3-years and 514% in last 5-years.

SRF also declared a dividend of Rs 3.6 per share on 23 Jan, 2023. The company fixed 7 Feb, 2023 as the record date.

ICICI Direct said, "Trigger for SRF's future revenue growth would be increasing specialty chemical business. BUY with a target price of Rs 2550."

Disclaimer

The stocks have been picked from the brokerage report of ICICI Direct. 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.