ICICI Bank, Hindustan Unilever Ltd (HUL), and Jindal Steel and Power (JSPL) have caught the attention of market experts, with their recent performance showing promising signs for investors. Jay Thakkar from Sharekhan has shared his buy recommendations for these stocks, highlighting the potential for growth and providing insights into the expected price targets.

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Starting with ICICI Bank, Thakkar believes that the stock has finally broken out of a prolonged consolidation phase. Currently trading around Rs 963, he suggested buying the stock with a stop loss set at Rs 940. Thakkar set the target range for ICICI Bank at Rs 995 to Rs 1,020, indicating potential upside movement.

In the past month, ICICI Bank's stock price has already exhibited a growth of over 1 percent, further adding to its appeal.

Moving on to Hindustan Unilever Ltd (HUL), Thakkar noted the positive trend in the fast-moving consumer goods (FMCG) sector, particularly highlighting HUL's performance. After a period of consolidation, HUL has also provided a breakout. Currently trading around Rs 2,725, Thakkar predicted a short-term move from Rs 2,850 to Rs 2,900. To mitigate risk, he suggested placing a stop loss at Rs 2,690.

In the previous month, HUL's stock showed an upward trajectory of more than 1 percent, indicating a positive sentiment among investors.

Thakkar's final recommendation is focused on Jindal Steel and Power (JSPL). According to him, the stock recently experienced a significant breakout. With the current trading level at Rs 625, Thakkar advised a stop loss at Rs 595 and set the target range at Rs 660 to Rs 680. This implies a potential increase in value for JSPL.

Over the past month, JSPL shares have already gained more than 19 percent, making it an attractive option for investors seeking growth opportunities.

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First Published:Jul 5, 2023 12:49 PM IST