ICICI Direct Recommends 2 Stocks Showing Potential To Offer Higher Return, Buy

ICICI Direct has recommended investors to buy sugar sector and metal sector stocks that are showing potential to offer return. These two stocks are Balrampur Chini and Ratnamani Metals & Tubes. If you buy these two stocks now, you can get potential return of 20%. Both the stocks have given multibagger returns to investors. Check details below:

1. Buy Balrampur Chini

Current market price of Balrampur Chini is Rs 367.90 apiece with an intraday gain of 2.32%. ICICI Direct has recommended investors to buy Balrampur Chini with a target price of Rs 435 apiece. If you buy Balrampur Chini now, you can get potential return of 19%.

The stock's 52-week high is Rs 525.70 apiece and 52-week low is Rs 306.80 apiece. The company has a market capitalisation of Rs 7,506.63 crore.

The stock gave a return of 116% in last 3-years and fell 12% in last 1-year.

According to ICICI Direct, "BCML's share price has gone up 3x in the last five years (from Rs 116 in February 2018 to Rs 362 in February 2023). We expect 25.6% distillery volume CAGR, which would boost the company's earnings by 11.1% CAGR during FY22-25E. We value the stock at Rs 435, valuing the business at 14x FY24 PE."

2. Buy Ratnamani Metals & Tubes

Current market price of Ratnamani Metals & Tubes is Rs 2082.55 apiece. ICICI Direct has recommended investors to buy Ratnamani Metals & Tubes with a target price of Rs 2500 apiece.

If you buy Ratnamani Metals & Tubes now, you can get potential return of 20%. The stock's 52-week high is Rs 2511.00 apiece and 52-week low is Rs 1347.51 apiece, respectively. The company has a market capitalisation of Rs 14,593.50 crore.

The stock rallied 48% in last 1-year, 139% in last 3-years, and 233% in last 5-years.

According to ICICI Direct, "RMTL's share price has given a return of ~54% over the last one year (from ~Rs 1407 in February 2022 to ~Rs 2164 levels in February 2023). We value RMTL at Rs 2500, 28x FY25E EPS.

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.