Expert Pick – This PSU stock can get 46% return in 1 year

This PSU stock will give bumper profits in 2023! Expert told top picks, can get 46% return in 1 year

New Pick Year 2023: Market expert Ambareesh Baliga has included Engineers India in his New Year picks. He has advised investing in this stock from the point of view of more than one year.

New Pick Year 2023: There is something else in the beginning of the new year 2023. The new year fills the enthusiasm of investors to do something new in the portfolio as well. Investors want to include strong earning stocks in their portfolio. If you are also looking for a strong stock for 2023, then you can bet on the stocks of PSU company Engineers India Ltd. Market expert Ambrish Baliga has included this stock in his New Year picks. He has advised investing in this stock from the point of view of more than one year. Investors can get a return of up to 46 per cent from the current rate during this period.

Engineers India: What is the opinion of the expert

Market expert Ambrish Baliga says, my New Year pick is Engineers India. It is an engineering design and turnkey contracting company. Its focus is on hydrocarbon chain, oil exploration to petrochemicals, chemical and fertilizing, mining, power and infra. The order book position of the company is very good. There is a strong order book of Rs 8,800 crore.

Ambrish Baliga says, the business visibility of the company is very good. A lot of capex is being announced in the oil and gas sector right now, which is very good for the business of Engineers India. The dividend yield is around 5 per cent. It contains buying advice.

Engineers India: 46% return in 1 year

Market expert Ambrish Baliga has given a target of 108 on Engineers India. The share price closed at Rs 74.40 on 23 December 2022. In this way, at the current price, the stock can see a return of about 46 percent during the next one year. The stock has gained about 29 per cent in the last 6 months. So far this year, the stock’s returns have been around 6 per cent.