Budget 2023 pick: This mining PSU company can deliver 30% return - Check price target

Budget Pick 2023: Market expert Vijay Chopra on Monday, January 25, recommended shares of KIOCL to Zee Business viewers for bumper gains. The stock was recommended in a special segment 'Budget 2023- My Pick' aired on Zee Business.

KIOCL Limited

KIOCL Limited, formerly Kudremukh Iron Ore Company Limited is a PSU under the ownership of the Ministry of Steel. Headquartered in Bangaluru, it has a pelletisation plant in Mangalore and also had an iron ore mine in Kudremukh.

Vijay said that government holds 99 per cent stake. Public float is approximately 1 per cent.

He added that any news of divestment could be a good opportunity for private players.

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KIOCL Share Price Target: Rs 280/300

Duration: 1 Year

For the current fiscal, the budgeted disinvestment target is Rs 65,000 crore.

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