ICICI Direct Recommends 2 Mid Cap Stocks Showing Potential To Soar, Buy

ICICI Direct has suggested investors to buy two mid cap stock showing potential to rally. These 2 stocks are Graphite India and Jindal Stainless. If you buy these 2 stocks now, you can fetch potential return of 18% soon. Jindal Stainless shares delivered over 160% return in just last 1-year. Check details below:

1. Buy Graphite India: ICICI Direct has assigned buy call to Graphite India share with target price of Rs 440 per share. Current market price of Graphite India stock is Rs 372.15 per share on BSE. If you buy Graphite India shares now, you can obtain potential return of 18%. The stock's 52-week high price is Rs 459.80 per share and 52-week low price is Rs 251.75 per share, respectively. The mid cap stock has a market capitalisation of Rs 7,270.90 crore.

Graphite India share rallied 25% in last 3-months, declined 16% in last 1-year, and 51% in last 2-years. In last 3-years, Graphite India stock jumped 75%.

According to ICCI Direct, "GIL's share price has given a return of ~82% over the last three years (from ~Rs 206 in May 2020 to Rs 375 in May 2023). We maintain our BUY rating on the stock. We value GIL at Rs 440, 6.5x FY25E EV/EBITDA."

2. Buy Jindal Stainless: ICICI Direct has recommended buy rating to Jindal Stainless share with target price of Rs 350 apiece. Current market price of Jindal Stainless stock is Rs 300.55 per share with intraday jump of 5.66% on BSE. Its 52-week high price is Rs 329.00 per share and 52-week low price is Rs 95.05 per share, respectively. Its market capitalisation is Rs 24,748.33 crore. Jindal Stainless shares jumped 52% in last 6-months, 162% in last 1-year, 225% in last 2-years, and a huge 725% in last 3-years.

If you buy Jindal Stainless shares now, you can fetch potential upside of 17%.

According to ICICI Direct, "In our metals coverage, we also like Jindal Stainless (JSL). BUY with a target price of Rs 350.