Reports in category Result Update
| PCBL Ltd is good proxy to play upon recovery in volumes in the tyre and broader auto space: ICICI Direct | |
| Company: | Phillips Carbon Black |
| Brokerage: | ICICI-Direct |
| Date of report: | July 22, 2022 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 33% |
| Summary: | We maintain our positive view and retain BUY rating on the stock. PCBL with organic growth prospects, much heathier B/S and return ratios is a good proxy to play upon recovery in volumes in the tyre and broader auto space |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, Phillips Carbon Black |
| Buy Century Plyboards For Target Price Of Rs. 747 (46% Gain): ICICI Securities | |
| Company: | Century Ply |
| Brokerage: | ICICI Securities |
| Date of report: | June 28, 2022 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 46% |
| Summary: | We continue to like CPBI for its strong growth prospects, high return ratios and healthy balance sheet and believe it will be a major beneficiary of the uptick in housing demand and higher spend on home improvement post the pandemic. Maintain estimates and Mar’23E target price of Rs747, set at unchanged 35x PER FY24E |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Century Ply, ICICI Securities |
| HDFC Bank’s runway is huge; it can potentially add a new HDFC Bank every 5 years. Buy for 47% gain: ICICI Securities | |
| Company: | HDFC Bank, ICICI Securities |
| Brokerage: | ICICI Securities |
| Date of report: | June 23, 2022 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 47% |
| Summary: | Growth runway is huge; potentially add HDFC Bank every five years. Proposed merger adds an entirely different dimension to the future. There may not be any need to raise further funds to meet reserve requirements. Plans to nearly double its network in next 3-5 years by opening 1,500 to 2,000 branches every year. 4) Bank will continue to invest in modern technology and talent. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC Bank, ICICI Securities |
| IT Sector is showing clear signs of moderation. Maintain underweight stance: ICICI Securities | |
| Company: | IT Sector |
| Brokerage: | ICICI Securities |
| Date of report: | June 24, 2022 |
| Type of Report: | |
| Recommendation: | Hold |
| Upside Potential: | 100% |
| Summary: | We re-iterate our underweight stance on the Indian IT services and believe deployment in the sector should be very slow and gradual as we believe there would be many unknown risks (normalisation of tech spend, downside risk on FY24 revenue growth etc.) ahead, which might further degrade valuations. We suggest investor to stick with TCS in large cap; Coforge in mid cap. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, IT Sector |
| ICICI Bank is top pick in the banking space: Buy for target price of Rs. 1065 (55% Gain) | |
| Company: | ICICI Bank |
| Brokerage: | Nirmal Bang |
| Date of report: | June 20, 2022 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 55% |
| Summary: | We reiterate ICICI Bank as our top pick in the banking space given the visibility of 2% ROA by FY24E on the back of 21% CAGR in net profit over FY22-24E. Given the current increasing interest rate environment, the bank seems one of the best placed from ROA accretion perspective given its higher share of EBLR linkage, enabling faster transmission of rate increases on the asset side. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Bank, Nirmal Bang |
| SBI has set new standard in banking excellence. Buy for Target Price of Rs. 673 (45% Upside) | |
| Company: | SBI |
| Brokerage: | ICICI Securities |
| Date of report: | June 11, 2022 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 45% |
| Summary: | SBI has set new standard in banking excellence: SBI exited FY22 with 13.9% RoE and 0.67% RoA aided by growth build-up, GNPAs at a decadal low, slippages at <1%, credit cost at 55bps and steady margin profile. Improved visibility on asset quality with ‘new normal’ credit cost of 1%, credit growth of 13%/15% for FY23E/FY24E, asset resolution and stable NIMs will drive RoE to >16% by FY23E/FY24E and valuations to 1.5x Sep’23E book. Maintain BUY with an unchanged target price of Rs673. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, SBI |
| Bharat Electronics is a buy for target price of Rs 290 (24% gain): ICICI Direct | |
| Company: | Bharat Electronics |
| Brokerage: | ICICI-Direct |
| Date of report: | June 1, 2022 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 24% |
| Summary: | Bharat Electronics (BEL) is a leading aerospace and defence electronics company. It primarily manufactures advance electronics products.. It has a strong balance sheet, double digit returns ratios |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Bharat Electronics, ICICI-Direct |
| Valiant Organics Ltd (VOL) has Buy rating for target price of Rs 1,382 (100% Potential Gain) | |
| Company: | Valiant Organics Ltd (VOL) |
| Brokerage: | BP Equities |
| Date of report: | May 31, 2022 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 100% |
| Summary: | VOL commands a leadership position in the domestic Chloro Phenols market and is the key producer of Para Nitro Aniline (PNA) in India. The company is fully integrated and has an import substitution opportunity persisting for products like Para Anisidine (PA) and Ortho Amino Phenol (OAP), while Para Amino Phenol (PAP), currently has limited availability domestically and is mainly imported. Considering the integrated business model, superior financial performance, healthy balance sheet with improving return ratios, we are optimistic about the company’s long-term growth prospects. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | BP Equities, Valiant Organics Ltd (VOL) |
| M&M is a “Lethal Combination of Growth and Value Creation” & a “compelling buy”: IDBI Capital | |
| Company: | M&M, Mahindra & Mahindra |
| Brokerage: | IDBI Capital |
| Date of report: | May 30, 2022 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 57% |
| Summary: | Compelling Valuations: BUY with 57% upside: Based on Standalone earnings, the stock is quoting at PER of 14.8xFY24 earnings despite 25% earnings CAGR and ~17% ROE profile. However, based on its core business (Auto and Farm), net of subsidiary valuations of Rs 574/share, the stock is quoting at PER of 7.1xFY24 earnings. We find current valuations extremely attractive and retain BUY rating and target price of Rs 1,565 implying 57% upside. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | IDBI Capital, M&M |
| Adani Ports is an integrated play to transform Indian logistics sector: ICICI Direct | |
| Company: | Adani Ports |
| Brokerage: | ICICI-Direct |
| Date of report: | September 5, 2021 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 20% |
| Summary: | Integrated play to transform Indian logistics sector… |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Adani Ports, ICICI-Direct |