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ICICI Securities Picks 2 Stocks To Buy From Ferrous Space For 50% Upside
ICICI Securities has listed small cap and mid cap stocks, Shyam Metalics and Energy Ltd and Jindal Steel & Power Limited (JSPl) to buy for investment from Ferrous space. If you buy shares of these two stocks, you will receive maximum 50% potential upside. Check key takeaways below:
1. Buy Shyam Metalics and Energy
ICICI Securities has listed the stock in buy list with a target price of Rs 425 apiece. The current market price of the stock is Rs 283 apiece.
If you buy Shyam Metalics and Energy now, you can get potential 50% upside soon. The small cap company has a market capitalisation of Rs 7234 crore. The shares of Shyam Metalics have declined 10% in last 1-year and rallied 6% in last 6-months. The company came into existence in 2002.
According to ICICI Securities, "We maintain cautious view on ferrous space with JSPL (TP: Rs605) and Shyam Metalics (TP: Rs425) as our key picks owing to their long-heavy product portfolio."
It is one of the leading integrated metal producing companies based in India mainly steel Industry in west bengal and steel industry in Odisha with a focus on Long Steel Products and Ferro Alloys. It has a consistent track record of delivering operating profitability, and since the commencement of its operations in Fiscal 2005, it has delivered a positive EBITDA in each of the Fiscals.
2. Buy Jindal Steel & Power Limited
The analyst has recommended investors to buy Jindal Steel & Power Limited with a target price of Rs 605. The current market price of the stock is Rs 524 apiece with an intraday fall of 2.88%.
If you buy shares of Jindal Steel & Power Limited, you will get potential 15% return. The mid cap company has a market capitalisation of Rs 53,467 crore.
The company was incorporated in 1979.
JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors. Led by Mr Naveen Jindal, the company's enviable success story has been scripted essentially by its resolve to innovate, set new standards, enhance capabilities, enrich lives and to ensure that it stays true to its cherished value system.
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.
