At least a dozen BSE PSU index constituents including metals producers and oil & gas companies, dropped over 10 per cent in Calendar 2022 that was marked by a comeback of PSU stocks. Some of these stocks may stage a recovery ahead, suggest average price targets available with Trendlyne.
Data showed SAIL slipped 24 per cent to Rs 81.40 level from Rs 107.15 level as of December 31, 2021. The scrip had risen 44 per cent in 2021. Small retail investors held 13.68 per cent stake in the steelmaker as of September 30. The average target price on the stock at Rs 85.43, as per data publicly available with Trendlyne, suggests 8.62 per cent potential upside ahead.
Aluminium producer Nalco saw its shares tanking 23 per cent to Rs 77.70 a piece compared with Rs 100.90 level at December 2021 end. This stock has an average target of Rs 84.33, which suggests a 11.25 per cent potential upside from the prevailing levels.
Railway ticketing stock IRCTC and OMC HPCL were two other PSU stocks falling over 20 per cent each. IRCTC shares declined to Rs 653.70 from Rs 831.80 level. Its average target price at Rs 741.50 suggests a 16 per cent potential upside. HPCL is down 20 per cent year-to-date, falling to Rs 232.20 level from Rs 292 level. HPCL’s average price target at Rs 224.14 suggests no upside ahead.
Gujarat Gas (down 19 per cent), KIOCL (down 19 per cent) and NBCC (down 15 per cent) have fallen over 15 per cent each. Gujarat Gas’ average target suggests a 15 per cent potential upside ahead; no target is available for KIOCL while NBCC’s price target suggests 24 per cent potential downside.
Five other PSUs that failed to catchup PSU rally in 2022 included New India Assurance Company (NIA), BPCL, MMTC
Hindustan Copper and ITI. These stocks fell 10-15 per cent this year so far. BPCL’s price target suggests 5 per cent potential upside. Not many analysts track the other four stocks.
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