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Railways To Be Key Focus For Govt: 3 Stocks That Can Jump, Brokerages Bullish
After budget 2023, it has become clear that Railways will be a key focus for the government. In the current financial year, Railways had a budgeted spend of approximately Rs 1.37 lakh crore and it may surge to Rs 1.6 lakh crore for the next financial year, according to reports. Stocks that will get benefit from this move include Jindal Steel & Power, Siemens Ltd, and Rail Vikas Nigam. Check details below:
1. Buy Jindal Steel & Power
Motilal Oswal has given buy call to Jindal Steel and Power Ltd (JSPL) with a target price of Rs 700 apiece. The last trading price of Jindal Steel & Power is Rs 575.00 apiece with intraday dip of 5.47%.
If you buy Jindal Steel & Power now, you can receive a likely return of 22%. The market capitalisation of the company is Rs 58,655.07 crore. Its 52-week high and low prices are 622.40 apiece and 304.20 apiece, respectively.
JSPL rallied 22% in last 3-months, 49% in last 6-months, and 38% in last 1-year. The mid cap Metals & Ferrous sector gave 244% return in last 3-years.
According to Motilal Oswal, "We maintain JSP as our top pick in the steel sector with a TP of INR700, based on 5.5x FY24E EV/EBITDA. We believe JSP's focused approach on leverage, along with capacity expansion, should augur well."
2. Buy Rail Vikas Nigam
The last trading price of Rail Vikas Nigam is Rs 73.85 apiece with intraday gain of 1.65%. HDFC Securities has assigned a target price of Rs 86 apiece to the miniratna stock. If you buy Rail Vikas Nigam now, you can expect to get potential 18% return. The stock's 52-week high is Rs 84.15 apiece and 52-week low is Rs 29.00 apiece, respectively.
The market capitalisation of Rail Vikas Nigam is Rs 15,397.87 crore. The stock fetched return of 84% in just 3 months, 138% in just 6-months, and 107% in last 1-year. It rallied 196% in last 3-years. The mid cap company operates in Construction sector.
HDFC Securities, in its January 12, 2023 report, said, "management expects revenue to grow at CAGR of over 20 per cent in the coming few years on the back of strong order book and new order inflows."
"Looking at the strong prospects we believe the stock is available at reasonable valuation. Its cash and investments per share are Rs 22.3 which is 31 per cent of its current prices. We feel investors can buy the stock in Rs 71-74 band and add further in Rs 64-66 band for base case target of Rs 81 and bull case target of Rs 86.5 over the next 2-3 quarters," added HDFC Securities.
3. Buy Siemens
BoB Capital has given buy call to Siemens India with a target price of Rs 3500 apiece. The last trading price of the stock is Rs 2916.55 apiece with intraday fall of 1.00%.
If you buy Siemens Ltd now, you may expect to receive a potential return of 20%.
The stock's 52-week high is Rs 3136.80 apiece and 52-week low is Rs 2150 apiece, respectively. The large cap company has a market capitalisation of Rs 1,03,864.25 crore. The stock offered a return of 7% in last 6-months, 20% in last 1-year, and 106% in last 3-years.
According to BoB Capital, "SIEMENS remains the best play on upcoming smart capex with a broad portfolio mix that not only caters to sectors evolving toward Industry 4.0, but also harnesses the green energy transition theme with its stronghold in building and grid electrification."
Disclaimer
The stocks have been picked from the brokerage report of BoB Capital, Motilal Oswal, and HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage Houses 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.
