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Posts tagged ICICI-Direct

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Cochin Shipyard to witness significant YoY growth in revenues & profitability. Buy for target price of Rs 1340: ICICI Direct
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Brokerage:
Date of report: November 28, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 20%
Summary:

We expect CSL to witness significant YoY growth in revenues & profitability over FY24-25E, led by execution pick-up in both the segments and increasing share of margin accretive ship-repair segment
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Amara Raj is in value zone with attractive risk reward. Buy for target price of Rs 900 (27% upside)
Company:
Brokerage:
Date of report: December 1, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 27%
Summary:

With steady growth prospects in base business, increasing focus in new energy domain, merger of related businesses at fair value, healthy net cash positive B/S & inexpensive valuations, we have a positive view on the stock
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Engineers India is a High Conviction Buy Idea for target price of Rs 160 (25% upside): Strong growth available at attractive valuations: ICICI Direct
Company:
Brokerage:
Date of report: October 30, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 25%
Summary:

With strong order inflows in FY23-Q1FY24, better segment mix, focus on new export markets we believe company’s financial performance to improve significantly over FY23-25E as compared to FY20-23. Revenue and PAT are expected to register 15.5% and 23.1% CAGR over FY23-FY25E, respectively.
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Action Construction Equipment (ACE) is well positioned to benefit from strong industry tailwinds. Buy for target price of Rs 910 (23% upside)
Company:
Brokerage:
Date of report: October 23, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 23%
Summary:

ACE is well positioned to ride the strong demand cycle in its product segments in both domestic & exports market, new product developments. We believe company’s operational and financial performance to improve significantly in the coming period
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VSSL’s aim is to make it big in the special steel domain with backing of Aichi Steel Corp. Buy for target price of ₹260 (30% upside): ICICI-Direct
Company:
Brokerage:
Date of report: October 19, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 30%
Summary:

We assign BUY rating to the stock gaining confidence from VSSL’s aim to make it big in the special steel domain amidst backing of Aichi Steel Corporation. We value VSSL at ₹260 i.e., 18x PE on FY25E-26E average EPS of ₹14.3/share
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Mayur Uniquoters is a conviction idea in small cap auto ancillary space for 30% upside potential: ICICI Direct
Company:
Brokerage:
Date of report: October 5, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 30%
Summary:

We assign BUY rating on Mayur Uniquoters amidst healthy growth prospects especially in auto OEM export space, healthy margin profile (~20%), capital efficient business model (RoIC: 20%+) & Cash positive B/S (Net cash at ~₹180 crore as of FY23)
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Buy PNC Infratech for target price of Rs 460. Asset monetisation – a key trigger ahead: ICICI Direct
Company:
Brokerage:
Date of report: September 22, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 25%
Summary:

PNC Infratech has established itself as a strong executor in roads and water infra segments. Additionally, superior execution capabilities via ownership of modern
equipment and in-house teams enables PNC to deliver projects on-time

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Astra Microwave Products is well poised for strong growth ahead. Buy for target price of Rs 510 (27% upside): ICICI Direct
Company:
Brokerage:
Date of report: September 12, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 27%
Summary:

Astra Microwave Products (AMPL), incorporated in 1991, is engaged in design, development and manufacture of sub-systems for Radio Frequency and microwave systems, primarily used in defence, space & meteorology
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BSE is getting a boost from Derivatives. Buy for target price of Rs 1230 (35% upside): ICICI Direct
Company:
Brokerage:
Date of report: August 30, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 35%
Summary:

The bull case assumes a 10% derivatives market share (similar to the base case) but higher options pricing, resulting in a 23% revenue CAGR and 30x multiple, indicating a ~70% upside.

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CanFin Homes is the best in class HFC player with a robust business model & underwriting practices: ICICI Direct
Company:
Brokerage:
Date of report: August 15, 2023
Type of Report: Result Update
Recommendation: Buy
Upside Potential: 25%
Summary:

CFHL has been best in class HFC player with a robust business model & underwriting practices, which resulted in healthy earnings growth with GNPA <1% across cycles. Strategy adopted by new management to strengthen processes & IT infrastructure to further aid business growth and RoA.

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