2 PSU Defence Sector Stocks Get Sell Call: ICICI Securities Recommends

ICICI Securities has assigned sell call to 2 Defence sector PSU stocks. These stocks are Garden Reach Shipbuilders & Engineers Ltd and Mazagon Dock Shipbuilders Ltd. Both these stocks are of Navratna status.Check details related to both the stocks below:

1. Sell Garden Reach Shipbuilders & Engineers

ICICI Securities has assigned sell call to Garden Reach Shipbuilders & Engineers with a target price of Rs 390 apiece. The last trading price of Garden Reach Shipbuilders & Engineers is Rs 493.70 apiece with intraday gain of 2.98%.

The small cap stock's 52-week high is Rs 556.80 apiece and 52-week low is Rs 199.00 apiece, respectively. The company has a market capitalisation of Rs 5,655.43 crore.

The stock rallied 85% in last 6-months, 107% in last 1-year, and 149% in last 3-years. The small cap Miniratna PSU stock operates in Shipping sector.

Garden Reach Shipbuilders & Engineers Ltd is the premier Warship building Company in India, under the administrative control of Ministry of Defence. GRSE, a PCMM Level-2 Certified Company and 40th ranked Fortune India Next 500 Company 2021, dates back to 1884. The Company was taken over by the Government of India in 1960. First shipyard of independent India to build a Seaward Defence Boat (SDB) INS Ajay for Indian Navy in 1961, GRSE also built the first ever Indian Export Warship "CGS Barracuda", according to its linkedin page.

2. Sell Mazagon Dock Shipbuilders Ltd

ICICI Securities has given sell call to Mazagon Dock Shipbuilders Ltd with a target price of Rs 600 apiece. The last trading price of the Miniratna PSU stock is Rs 768.90 apiece with an intraday gain of 3.37%.

Its 52-week high is Rs 936.85 apiece and 52-week low is Rs 224.00 apiece, respectively. The company has a market capitalisation of Rs 15,507.94 crore. The stock rallied 4% in last 1-week, 6% in last 3-months, and 174% in last 6-months, and 181% in last 1-year. It was incorporated in 1934.

Mazagon Dock Shipbuilders Limited, aptly called "Ship Builder to the Nation", is one of India's leading Defence public sector undertaking shipyard under the Ministry of Defence. Main activities are construction of warships and submarines with facilities situated at Mumbai and Nhava (under development).

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.