Buy 3 Metal Stocks For Return Up To 54%: ICICI Securities Lists Top Preferred Stocks

ICICI Securities has recommended investors to buy 3 stocks from metal & mining sector. These stocks are Jindal Steel & Power Ltd (JSPL), Shyam Metalics and Energy Ltd, and APL Apollo Tubes Ltd. If you buy these 3 metal stocks, you can get potential return
of 54%.

HRC prices in traders' market have crossed Rs 60,000/te on average for the first-time post Jun-22 as expectations of a price hike by major steel players in Mar-23 builds up. Check details pertaining to the stocks below:

1. Buy Shyam Metalics and Energy Ltd

The analyst has assigned buy call to Shyam Metalics with target price of Rs 425 apiece. Shyam Metalics and Energy Ltd's last trading price is Rs 276.75 apiece. If you buy Shyam Metalics now, you can get potential return of 54% soon. The stock's 52-week high is quoted at Rs 385.40 apiece and 52-week low is quoted at Rs 268.50 apiece, respectively. Its market capitalisation is Rs 7,059.36 crore.
It declined 13% in last 1-year and 6% in last 6-months. The small cap stock was incorporated in 2002.

2. Buy Jindal Steel & Power Ltd

ICICI Securities has maintained buy call on JSPL with target price of Rs 750 apiece. Last trading price of JSPL is Rs 588.95 with intraday rally of 2.13% on BSE. If you buy Jindal Steel & Power Ltd shares now, you can get likely return of 28%.

The stock's 52-week high is Rs 622.40 apiece and 52-week low is Rs 304.20 apiece, respectively. The company has a market capitalisation of Rs 60,078.09 crore. The mid cap stock came into existence in 1979. The stock soared 40% in just 6-months, 32% in last 1-year, and 266% in last 3-years.

 

3. Buy APL Apollo Tubes Ltd

ICICI Securities has recommended investors to buy APL Apollo shares with target price of Rs 1375 apiece. Last trading price of the mid cap stock is Rs 1227.80 apiece with intraday fall of 1.51%. If you buy APL Apollo Tubes Ltd shares now, you can get potential return of 12%.

The 52-week high of APL Apollo Tubes Ltd is Rs 1336.80 apiece and 52-week low is Rs 801.40 apiece, respectively.
Its market capitalisation is Rs 34,050.68 crore. It delivered investors return of 42% in last 1-year span. In last 6-months, it rallied 18%, 543% in last 3-years, and 494% in last 5-years.

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.