Trader’s Guide: 2 midcap stocks that can offer 7% returns

ICICI Group stock”PSBs’ aggregate loan growth in FY22 improved to 8.8% (versus private banks’ 16%) – the highest since FY14. More importantly, growth across PSBs was more broad-based across segments,” it added.The brokerage has a ‘buy’ rating on both SBI and Bank of Baroda, with target prices of ₹600 and ₹130 and, respectively. SBI’s shares gained 0.3% to end at ₹462.35 on Tuesday, while Bank of Baroda ended 1.44% lower at ₹95.80.

Synopsis

Given the relatively better performance of the midcap stocks’ universe when compared to the main indices, some rebound in price in this stock cannot be ruled out when supported by important technical developments on the charts.

Expert: Milan VaishnavIt was a tough day for the market as Nifty ended with a modest cut after failing to capitalize on the strong start that it got on Thursday. What was good was that the market breadth remained much better. The Midcap 100 index outperformed the frontline indices. The stocks from the broader markets are showing relative outperformance, and the brewery company is one such stock that is on the verge of a fresh breakout.

BY

Milan Vaishnav & Foram Chheda

ET CONTRIBUTORS

Sep 30, 2022, 09:26 AM IST

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