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Stocks To Buy: ICICI Direct Suggests These 3 Stocks For Upto 50% Return
The current equity markets in India are significantly down due to major Foreign investors' outflow. FPI outflow in May stood at Rs. 6400 which is a significant fall in the stock markets. The recent interest rate hike by the US Federal Reserve and the UK central bank has triggered this major FPI outflow. Additionally, the RBI has also raised its key lending rate, the repo rate. These are making the government bonds more profitable. So, with a falling stock market and falling Sensex, it is a good time for investors to buy stocks. ICICI Direct has recently recommended these three stocks to invest in for good returns in the long term.
Stock recommendations
The brokerage firm has recommended these three below-mentioned stocks for investment. Siemens Ltd., Ramco Cement, and Granules are three preferred stocks by the brokerage firm.
Current market price and target price for the stock
| Company stock | Current Market Price (CMP) | Target Price (TP) | 1 Year Return |
|---|---|---|---|
| Siemens Ltd | Rs. 2,300.50 | Rs. 2856 | 24.17% |
| Ramco Cement | Rs. 683.95 | Rs. 900 | 33.80% |
| Granules | Rs. 239.45 | Rs. 360 | 50.62% |
About the Siemens Ltd. stock, ICICI Direct has stated, "Further penetration of valued added automation and digitization products & services across segments to drive margins, long term growth."
About the Ramco Cement stock, ICICI said, "The company is the cost-efficient player in the south. It is expanding its footprints in the eastern region."
About the Granules stock, ICICI commented, "Granules India is a vertically integrated company that manufactures API, intermediates and finished dosages with vision to play on its strength of economies of scale and expansion into more complex products/forms."
