ICICI Direct is bullish on PNC Infratech recommended buy rating on the stock with a target price of Rs 460 in its research report dated September 22, 2023.
“We believe that flows will go more into relatively lower-valued stocks within the midcap and smallcap indices on a growth-adjusted basis. We have identified the cheapest stocks on a PEG basis and from among them, we have identified the cheapest stocks on a PEG basis and from among them, we have identified a few lists of stocks, which potentially look pretty attractive.”
The stock market showcased significant movements as several stocks rose above their 100-day Simple Moving Average (SMA) on August 28, a pivotal technical indicator.
In the recent phase of correction which the nifty witnessed for four weeks, mid-cap stocks were still under the control of bulls. Overall market participation in this segment continues to rise with market breadth being positive. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.