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Stocks To Buy: ICICI Securities Upbeat On 3 Stocks From Metal & Mining Sector, Potential Return 46%

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ICICI Securities has listed 3 stocks from metals & mining sector offering good return potential. These stocks are APL Apollo Tubes Ltd, Shyam Metalics and Energy Ltd, and Jindal Steel & Power. If you buy these stocks at their current market price, you are set to receive maximum 46% return.

 

According to ICICI Securities, "We maintain our cautious view on the ferrous space with JSPL (TP: Rs605) and Shyam Metalics (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."

1. Buy Shyam Metalics and Energy Ltd

1. Buy Shyam Metalics and Energy Ltd

The last trading price of the stock is Rs 291 apiece after an intraday fall of 0.19%. ICICI Securities sees an upside potential in the stock and put it in the buy category with a target price of Rs 425 apiece.

If you buy Shyam Metalics now, you can get potential 46% return.

The stock's 52-week high is quoted at Rs 385 apiece and 52-week low is quoted at Rs 273 apiece, respectively. It has a market capitalisation of Rs 7440 crore. The small cap stock has declined 22% in last 5-years and 11% in last 1-year. The company was incorporated in 2002.

2. Buy Jindal Steel & Power
 

2. Buy Jindal Steel & Power

The last trading price of the stock is Rs 545 apiece with an intraday decline of over 2%. ICICI Securities has assigned buy call to the stock with a target price of Rs 605 apiece. If you buy Jindal Steel, you can get 11% return.

The stock's 52-week high is Rs 577 apiece and 52-week low is Rs 304 apiece, respectively. The mid cap company has a market capitalisation of Rs 55,635 crore. The stock has given 230% return in last 5-years, 281% return in last 3-years, and 39% return in last 1-year. The mid cap company was incorporated in 1979.

3. Buy APL Apollo Tubes Ltd

3. Buy APL Apollo Tubes Ltd

The last trading price of the stock is Rs 1164 apiece after an intraday gain of 1.22%. ICICI Securities has assigned buy rating to the stock with a target price of Rs 1225 apiece. If you buy APL Apollo today, you can get 5% return.

The company has a market capitalisation of Rs 32,267 crore. The mid cap stock has given 498% return in last 5-years, 628% return in last 3-years, and 23% return in last 1-year.

4. Outlook

4. Outlook

According to ICICI Securities, "flats appear to be more susceptible to longs owing to weak demand, limited export opportunities and rising production of domestic steel companies. While global steel prices will get a leg-up owing to Vale cutting its iron ore production guidance, we believe the substantial gap between domestic prices and landed cost of imports might keep flats prices under pressure. We maintain our cautious view on the ferrous space with JSPL (TP: Rs605) and Shyam Metalics (TP: Rs425) as our key picks owing to their long-heavy product portfolios."

Disclaimer

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.

Story first published: Saturday, December 10, 2022, 7:40 [IST]
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