Stock Picks: 3 brokerage houses trust this stock, give investment advice

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Stock Picks: The stock has increased by more than 40 percent so far in the year 2023. The stock has seen a sharp increase of 383 percent in the last 3 years. However, there is pressure in the stock since last 3 months. According to brokerage house, investment opportunities have been created due to fall in stocks.

Along with the quarterly results, the process of review of stocks is also going on. Brokerage houses are reviewing the stocks under their coverage based on the results and further estimates and are setting targets accordingly. One such stock is that of APL Apollo Tubes which has been included by many brokerage houses in their coverage. This company of iron and steel products has presented its quarterly results. After the results, 3 brokerage houses have maintained their investment advice on the stock. Know what their goals are

ICICI Securities has advised to invest in the stock with a target of Rs 1900. Compared to the current levels of the stock, the brokerage house expects further returns of 23 percent. According to the report, the results were less than expected. Looking at further signs, the brokerage house has reduced its target from 1930 to 1900. However, the buy advice is maintained.

 Sharekhan has advised to invest in the stock with a target of Rs 2000. That means the stock is expected to grow by 30 percent from current levels. According to the report, the recent fall in stocks has created investment opportunities. The results have also been as per expectations.

 Whereas Motilal Oswal has advised to invest in stocks with a target of 1930. This means that the stock is expected to grow by 25 percent from here. According to the report, the indications received from the results have been positive. The brokerage house has maintained its earnings estimates for the current financial year and the next financial year.

 how were the results

 APL Apollo Tubes' second quarter results were in line with market expectations. The consolidated profit of the company has been Rs 203 crore, an increase of 35 percent compared to last year. 

 How was the stock's performance?

 In Friday's trading, the stock closed at the level of 1543 with a decline of more than one percent. The stock has increased by more than 40 percent so far in the year 2023. The stock has seen a sharp increase of 383 percent in the last 3 years.