Stocks To Buy: ICICI Securities Picks Top 3 Stocks From Metals & Mining Sector, Return 45%

ICICI Securities has chosen 3 stocks from Metals & Mining sector for investment. These stocks are Jindal Steel & Power Ltd, Shyam Metallics and Energy Ltd, and APL Apollo Tubes Ltd, and APL Apollo Ltd. If you buy these stocks now, you will receive maximum 45% return.

According to the analyst, "Going ahead, we perceive the rise in covid cases in China as the biggest threat to steel demand, which might keep global prices low. We maintain cautious view on ferrous space with JSPL (TP: Rs.605) and Shyam Metallics (TP: Rs425) as our key picks. We are also positive on APL Apollo (TP: Rs1,225) as being a downstream player, it is relatively insulated from adverse price movements.

Check key takeaways below:

1. Buy Shyam Metallics and Energy Ltd

The last trading price of the stock is Rs 293 apiece with an intraday gain of 0.64%. The stock's 52-week high is Rs 385 apiece and 52-week low is Rs 273 apiece, respectively. The company has a market capitalisation of Rs 7476 crore.

The small cap company was incorporated in 2022 and operates in Metals & Ferrous sector. The stock has declined 21% in last 5-years, 12% in last 1-year, and less than 1% in last 3-months.

ICICI Securities has maintained buy rating on the stock with a target price of Rs 425 apiece. Buy Shyam Metallics and Energy Ltd at the current market price to receive 45% return.

2. Buy Jindal Steel & Power Ltd

The last trading price of the stock is Rs 520 apiece with an intraday dip of 0.20% as on November 25, 2022. The stock's 52-week high is Rs 577 apiece and 52-week low is Rs 304 apiece, respectively.

The company has a market capitalisation of Rs 53,121 crore. The stock has given multibagger return in last 5-years. The 5-years return is 201%, 3-years return is 236% and 1-year return is 36%. The stock has jumped 29% in last 3-months.

The mid cap company operates in Metals & Ferrous sector. ICICI Securities has assigned buy call to the stock. Buy Jindal Steel & Power Ltd with a target price of Rs 605 apiece and a return of 16%.

3. Buy APL Apollo Tubes Ltd

The last trading price of the stock is Rs 1080 apiece with an intraday decline of 1.50%. The stock's 52-week high is Rs 1177 apiece and 52-week low is Rs 771 apiece, respectively.

It has a market capitalisation of Rs 27042 crore. The stock has given multibagger returns with 481% in last 5-years, 595% in last 3-years, and 17% in last 1-year. The mid cap company operates in Metals & Ferrous sector and was incorporated in 1986.

ICICI Securities has assigned buy rating to the stock with a target price of Rs 1225 apiece. Buy APL Apollo Tubes today to receive return of 13%.

 

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.