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ICICI Securities Sees 3 Multibagger Stocks Rising & Offering Returns, Recommends Buy
ICICI Securities has assigned buy call to three stocks namely Jindal Stainless, Jindal Steel & Power, and Gokaldas Exports. If you buy these stocks now, you will get maximum 47%. The 3 stocks operate in metals & ferrous and apparels sector. Check key details below:
1. Buy Gokaldas Exports
The current market price of the stock is Rs 380 apiece with 2% intraday gain. ICICI Securities has assigned buy call to the stock with a target price of Rs 560 apiece. If you buy Gokaldas Exports Ltd now, you will get maximum 47% return. The stock has a market capitalisation of Rs 2302 crore.
Its 52-week high is Rs 519 apiece and 52-week low is Rs 301 apiece, respectively. The stock has given maximum 386% return in last 3-years and 189% return in last 5-years. The small cap company operates in Apparels sector.
According to ICICI Securities, "We initiate coverage on the stock with a BUY rating and target price of Rs560/share, valuing the stock at 17.5x FY25E EPS. We believe GEXP deserves to be valued at a higher multiple vs its current 1-year forward P/E multiple (~15x) owing to healthy PAT growth of ~18% CAGR over FY22-25E and stable RoEs in the range of 16- 18%.
2. Buy Jindal Steel & Power
ICICI Securities has assigned a target price of Rs 750 apiece to buy Jindal Steel & Power Ltd. The current market price of the stock is Rs 603 apiece and if you buy the stock at this price, you will get 24% return.
The stock's 52-week high is Rs 610 apiece and 52-week low is Rs 304 apiece. The stock hit its new 52-week high in trade today. It has a market capitalisation of Rs 61,603 crore. The metals & ferrous sector stock has given 126% return in last 5-years, 242% return in last 3-years, and 57% return in last 1-year. It has soared over 41% in last 3-months.
The company for the quarter ended September 30, 2022 declared a consolidated total income at Rs 13,521 crore, up a little above 3% from previous quarter total income of Rs 13,069 crore.
3. Buy Jindal Stainless
The current market price of the stock is Rs 236 apiece with 52-week high at Rs 255 apiece and 52-week low at Rs 95 apiece. ICICI Securities has recommended investors to buy Jindal Stainless shares with a target price of Rs 270 apiece.
If you buy Jindal Stainless now, you will get 14% upside. It has a market capitalisation of Rs 12,409 crore. The metals sector stock has given 20% return in 1-month, 91% return in last 3-months, 24% in last 1-year, and 448% return in last 3-years. In last 5-years, it has soared over 88%.
The small cap stock came into existence in 1980. It declared its consolidated total income for the quarter ended September 30, 2022 at Rs 5621 crore, up 2.39% from previous quarter total income of Rs 5,490 crore.
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.
