Stocks to Buy: Brokerage firm ICICI Securities has advised buy in three oil and gas sector companies - GAIL India, Mahanagar Gas and GSPL. These stocks have been estimated to rise up to 40 percent.
Stocks to Buy: Improved domestic supply, rising price of LNG i.e. liquid natural gas, the possibility of an increase in the price of petrol and diesel by oil marketing companies and a jump in the price of industrial fuel are making the outlook of oil and gas sector companies look strong.
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Brokerage firm ICICI Securities has advised buying in 3 government companies of this sector - MGL (Mahanagar Gas Limited), GAIL India, GSPL. These stocks are expected to rise up to 40 per cent from the current level. Let's know the target of brokerage. This report will also try to know which factors will support the rise in stocks.
MGL Target Price:
Mahanagar Gas Limited has a purchase advice and a target of Rs 1050 has been given. The stock had closed at Rs 880 last week. The 52-week high is Rs 932 and the lowest level is Rs 665. This stock has been flat for the last six months. Brokerage is bullish for the next 12-18 months. The average growth rate of EPS between FY 2023 and FY2026 is estimated to be 19 percent. Volume CAGR is estimated to be 6 percent. The target price is about 19 percent higher.
GAIL Target Price:
Regarding Gail India, the brokerage said that stress is visible in the near term, but strength is visible in the long term. The target price for this has been given at Rs 122. The old target is Rs 115. The stock had closed at Rs 103.45 last week. The 52-week high is Rs 116 and the lowest level is Rs 83. Pipeline connectivity is witnessing a boom. The target price is more than 18 percent.
GSPL Target Price:
A target of Rs 390 has been given for GSPL i.e. Gujarat State Petronet Limited. Last week, the stock closed at Rs 278. The target price is more than 40 percent. The 52-week high is Rs 294 and the lowest level is Rs 209. The company will benefit from improving domestic LNG supply.
Disclaimer: Here is the advice given by the brokerage house to invest in stocks. These are not zee business ideas. Consult your advisor before investing.