Hold 3 Maharatna Stocks For Double Digit Return In 1 year: ICICI Direct

ICICI Direct has assigned hold rating to three leading Maharatna stocks namely Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, and Bharat Petroleum Corporation Ltd. The brokerage house sees potential of gain in these three stocks and time period given is 1 year for these stocks to attain the target price.

Indian Oil Corporation Limited

The current market price of the stock is Rs 72.20 apiece with an intraday decline of 0.28%. The stock's 52-week high is quoted at Rs 94.55 apiece and 52-week low is quoted at Rs 67.77 apiece, respectively. The company has a market capitalization of Rs 1,01,955.34 crore.

According to ICICI Direct, investors should hold the stock with a target price of Rs 80 apiece with a potential gain of 11.11% in 1-year target period.

India's highest rank Energy PSU in Fortune-500 list (Rank 142), IndianOil recorded Revenue from Operations of ₹7,28,460 crores and a net profit of ₹24,184 crores for the financial year 2021-22, according to its website. As a Brand with one of the largest customer interface in India, IndianOil reaches precious petroleum fuels to every nook and corner of the country through its network of over 56,000 plus customer touch-points, surmounting the challenges of tough terrain, climate and accessibility. It received Maharatna tag by government of India in 2010.

Hindustan Petroleum Corporation Ltd

The current market price of the stock is Rs 248 with an intraday gain of 1.24% at the time of writing the story. The company has a market capitalization of Rs 35,293 crore. The 52-week high of the stock is Rs 354 apiece and the 52-week low is Rs 206 apiece, respectively.

ICICI Direct has given hold rating to the stock for a target price of Rs 260 apiece with a potential gain of 5%. The brokerage has given a target period of 1 year for the stock to reach the target price.

Hindustan Petroleum Corporation Limited (HPCL) is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, India. The government accorded 'Maharatna' status to state-owned Hindustan Petroleum and Power Grid Corporation in 2019, thus giving them greater operational and financial autonomy.

Bharat Petroleum Corporation Ltd

The current market price of the stock is Rs 341 apiece with an intraday gain of 0.90%. The stock's 52-week high is Rs 503 apiece and 52-week low is Rs 293 apiece, respectively. The company has a market capitalization of Rs 74,112 crore. According to ICICI Direct, investors should hold the stock right now for the target price of Rs 350 apiece with a potential gain of 2.64% in 1 year.
Bharat Petroleum Corporation Limited (BPCL) is an Indian government-owned oil and gas explorer and producer, headquartered in Mumbai. Indian government accorded Maharatna tag to company on 11 September, 2017.

 

Disclaimer

The stocks have been picked from the brokerage report of ICICI Direct. 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.