ICICI Securities Bullish On 3 Large & Midcap PSU Maharatna Stocks, Recommends Buy For Gains Up 68%
ICICI Securities has placed a buy call on 3 leading PSU Stocks from the Oil & gas, and petrochemicals sector.
These stocks are Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, and Bharat Petroleum Corporation Limited.
Below are the key takeaways from the report: Brokerage's views on the Oil & gas, and petrochemicals sector
Blended marketing margins for petrol & diesel reached a 10- month high of Rs 2.4/ ltr.
This is a material improvement from H 1 FY 23 performance for OMCs.
Our estimates suggest that with weaker international prices, retail margins will comfortably exceed breakeven levels for H2 and will be stronger at Rs2 - 3/ ltr for FY24E as well.
1. Indian Oil Corporation Limited ( IOCL)
Indian Oil Corporation Limited or IOCL is a Maharatna company.
It is a large- cap gas & Petroleum sector company having a market capitalisation of Rs 1,09,016 crore.
According to the given target price of Rs 130/ share to the stock of IOCL, it could give a return of up to 68% if you buy the stock today at the current market price.
The stock is currently trading on NSE at Rs 77.40/ share.
Bharat Petroleum Corporation Limited ( BPCL) is the second Large cap Gas & Petroleum sector picked by the brokerage with a buy call.
It is also a Maharatna Company under the Ministry of Petroleum & Natural Gas, Govt. Of India.
It has a market capitalisation of Rs 73,548.51 crore.
According to the given target price of Rs 420/ share, if you invest in the stock today at the current market price, it could give you returns on investments of up to 2%.
Hindustan Petroleum Corporation Limited ( HPCL) is also a Maharatna company having a market capitalisation of Rs 34,080.62 crore.
It is a mid- cap Gas & Petroleum sector company. The Brokerage has assigned a buy call to HPCL's stock with a target price of Rs 300/ share.
Considering the given target price, if you buy the stock at the current market price, you are likely to get a return on investments up to 25%.
By Shubham Kumar Goodreturns source: goodreturns.in Dailyhunt