These metal stocks can offer up to 35% return - Do you own? Check target price by ICICI Securities
Metal Stocks to Buy: Benchmark indices opened in green today with Sensex climbing 639.85 points to 73,728.18 in early trade and Nifty gaining 190.1 points to 22,337.10. Amid this, brokerage firm ICICI Securities said in its report that the performance of metal companies is expected to be mixed in the fourth quarter of FY24. The report said that ferrous companies face more challenges when compared with non-ferrous companies. The first quarter of FY25 is expected to be good for these companies.
Metal Stocks to BUY
The brokerage said that Q1 will be good for ferrous companies. They will get the double benefit of a fall in the price of coking coal and strength in demand after the elections. There are three companies that the brokerage has picked. Check out the list.
Shyam Metalics and Energy Share Ltd.
The share of Shyam Metalics was at the level of Rs 594.45 on the BSE on Friday. The 52-week high of Shyam Metalics and Energy, which has a market cap of Rs 16,745, is Rs 772.30 and a 52-week low of Rs 291.85.
Shyam Metalics and Energy Share price target
Brokerage firm ICICI Securities has given a 'buy' recommendation and set a target of Rs 815. This is an upside of over 35 per cent.
Jindal Steel & Power Ltd.
The share of Jindal Steel was at the level of Rs 925. The 52-week high of the stock is Rs 936, which is also an all-time high.
Jindal Steel & Power Ltd. share price target
There is a buy recommendation in this stock and the brokerage firm has set the target of Rs 985. The stock has risen 3.4 per cent this week and by 17 per cent in a month. In such a situation, new investors are advised to wait.
Jindal Stainless Ltd.
The share of Jindal Stainless was at the level of Rs 692. The 52-week high of the stock is Rs 726 which is also its all-time high.
Jindal Stainless Ltd. share price target
The stock has risen by one and a half per cent this week and by about 4 per cent in a month. The brokerage has given a 'buy' call with a target of Rs 770. This is about 12 per cent more.
Disclaimer
The advice to invest in stocks here has been given by the brokerage house. These are not the views of Zee Business. Consult your advisor before investing.