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Top Stock Picks: 7 Stocks To Buy For Good Upside In 3 Months

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ICICI Securities, a domestic brokerage company, has revealed gladiator stock selections, with Gujarat Pipavav Port Ltd (GPPL) being the top buy suggestion. The brokerage has set a target price of Rs 105 and a stop loss of Rs 82.00 for Gujarat Pipavav Port, implying a 17 percent potential upside from the current market price of Rs 92 in the target period of three months.

 
Top Stock Picks: 7 Stocks To Buy For Good Upside In 3 Months

The brokerage has claimed "The logistics space has been witnessing a revival after a nine month breather. In the logistics space, GPPL remains lucrative at current juncture and offers fresh entry opportunity based on the price resolved out of six month's falling channel, indicating conclusion of corrective phase, stock has witnessed a faster retracement as it retraced past six week's decline (Rs 95-76) in just a single week, exhibiting structural turnaround that bodes well for extension of the ongoing up move and the falling channel breakout has been backed by 7x volume of 20 days average volume, indicating larger participation in the direction of the trend."

Having Gujarat Pipavav Port as its top pick, the brokerage has also said "We expect the stock to resolve higher and gradually head towards Rs 105 in coming months as it is the 61.8% retracement of the June 2021-March 2022 decline (Rs 124- 76). This coincided with November 2021 high of 116."

According to ICICI Securities, near to medium term triggers of the stock includes addition of three service lines in 9M expected to boost Exim volumes, DFC normalisation is expected to increase the number of time tabled trains, leading to better port evacuation and debt free company with return ratios reaching ~16%+ levels in FY23E.

"While being backed by global container shipping behemoth Maersk (which continues to see its fortunes grow with record ocean freight charges), port extension and normalisation of Exim trade remain key triggers for future performance of the stock. We remain positive on the stock and maintain our BUY recommendation (TP: Rs 110)," ICICI Securities has highlighted.

 

Top Gladiator Stock Picks By ICICI Securities

DateNew stock recommendationBuying Range in RsTarget price in RsStoploss in RsDuration
5-Apr-22Gujarat Pipavav Port88-92105823 Months
DateOpen stock recommendationAvg Recommendation Price in RsTarget price in RsStoploss in RsDuration
4-Apr-22Adani Ports8169157553 Months
30-Mar-22Axis Bank7528356953 Months
22-Mar-22Info Edge4,703.005,380.004,315.003 Months
14-Mar-22Tech Mahindra1,493.001,690.001,328.003 Months
9-Mar-22Bharat Electronics213.52451923 Months
1-Feb-22Siemens2,368.002,740.002,135.003 Months
Source: ICICI Direct Research. Data as of April 5, 2022

Read more about: stocks to buy
Story first published: Wednesday, April 6, 2022, 14:06 [IST]
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