ICICI Securities Top 4 Picks From Gas & Petroleum Sector: Buy For Return Up To 74%

ICICI Securities has recommended four stocks to buy for investors from oil and gas sector. These stocks are GAIL, Oil India, ONGC, and GSPL. If you buy the stocks at their current market price now, they can offer you maximum potential return of up
to 74%.

According to ICICI Securities, "the OPEC+ decision to cut production by a further 2mb/d in Nov'22 came as a surprise to the markets. Global oil supply is already constrained due to the ongoing Russia-Ukraine conflict and resultant sanctions and other curbs on Russian oil sales."

Company	Potential Return
GAIL (India) Ltd	74%
Oil India Ltd	74%
Oil and Natural Gas Corporation Ltd	42%
Gujarat State Petronet Ltd	73%

Check key takeaways below:

1. GAIL (India) Ltd

The current market price of GAIL share is Rs 86 apiece with 52-week high at Rs 115 apiece and 52-week low at Rs 83 apiece, respectively. The company has a market capitlisation of Rs 56,874.61 crore. The stock has declined 20% in the last 5 years and 13% in last 1 year. This week it has gained approximately 2%.

ICICI Securities has given buy rating to GAIL with target price of Rs 150 apiece and potential return of up to 74%. The large company was incorporated in 1984.

2. Oil India Ltd

The current market price of Oil India share is Rs 193 apiece with 52-week high at Rs 306 apiece and 52-week low at Rs 168 apiece, respectively. The company has a market capitalisation of Rs 20,966.97 crore. The stock has declined 14% in last 5 years and gained 12% in last 3 years. It has gained nearly 4% in last 1 week.

ICICI Securities has assigned buy rating to Oil India with a target price of Rs 335 apiece and potential return of up to 73.58%. The mid cap company was incorporated in 1959.

3. Oil and Natural Gas Corporation Ltd

The current market price of ONGC share is Rs 131 apiece with 52-week high at Rs 194 apiece and 52-week low at Rs 119 apiece, respectively. The company has a market capitalisation of Rs 1,65,430.67 crore.

ICICI Securities has given buy call to ONGC with a target price of Rs 186 apiece with a potential return of up to 42%. The large cap company came into existence in 1993.

4. Gujarat State Petronet Ltd

The current stock price of GSPL is Rs 217 apiece with 52-week high at Rs 332 apiece and 52-week low at Rs 209 apiece, respectively. The company has a market capitalisation of Rs 12,294 crore.
ICICI Securities has assigned buy rating to GSPL stock with a target price of Rs 375 apiece and potential return of up to 72.81%. The Mid-cap company came into existence in 1998.

 

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.