Posts tagged ICICI Securities
| Transformers and Rectifiers India is firing on all cylinders. Buy for Target Price of Rs 86 (35% upside): ICICI Direct | |
| Company: | Transformers and Rectifiers India |
| Brokerage: | ICICI-Direct |
| Date of report: | January 10, 2023 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 35% |
| Summary: | After many years of stagnant performance, growth prospects are looking bright across all parameters. Revenue CAGR of 20% in FY2224E coupled with margins hitting 10.8% in FY24E will enable TRIL to post its best ever profitability performance. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Nano Nivesh, Transformers and Rectifiers India |
| GAIL’s Valuations remain overly pessimistic and ignore the solid business model and strong long-term prospects: ICICI Securities | |
| Company: | GAIL |
| Brokerage: | ICICI Securities |
| Date of report: | December 20, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 30% |
| Summary: | We value GAIL on the basis of FY24E EV/EBITDA multiples of 4-5.5x applied to various segments, leading to a target price of Rs127/sh (implying 30% upside). Current valuations of 6.3x FY24E EPS and 5.3x FY24E EV/EBITDA remain well below 5-year valuation bands. Even at our target price, P/E of 8.2x FY24E EPS, and |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | GAIL |
| Buy One 97 Communications (Paytm) for target price of Rs 1285 (156% Gain): ICICI Securities | |
| Company: | ICICI Securities, One 97 Communications (Paytm) |
| Brokerage: | One 97 Communications (Paytm) |
| Date of report: | December 2, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 156% |
| Summary: | Management expects positive FCF generation in 12-18 months; no onerous outcome of regulatory observations |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | One 97 Communications (Paytm) |
| Best Defense stocks to buy, hold or sell: ICICI Securities | |
| Company: | Defense Sector stocks |
| Brokerage: | ICICI Securities |
| Date of report: | November 24, 2022 |
| Type of Report: | Model Portfolio |
| Recommendation: | Buy |
| Upside Potential: | 100% |
| Summary: | Despite formidable stock returns of ~70% on average over a year, we believe there is further steam left in the sector on the back of robust orderbooks and improving earnings quality. We maintain HAL (BUY; TP: Rs3,170), BEL (BUY; TP: Rs125) and Astra Microwave (BUY; TP: Rs380) as our preferred picks in the space. We maintain SELL on MDSL (TP: Rs575) and GRSE (TP: Rs390) owing to earnings peaking out by FY25 |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Defense Sector Stocks |
| Buy Piramal Pharma for Target Price of Rs 200 (42% Upside): ICICI Securities | |
| Company: | Piramal Pharma |
| Brokerage: | ICICI Securities |
| Date of report: | November 14, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 42% |
| Summary: | We remain positive on Piramal Pharma considering the growing requirement for development services, especially with complex regulatory processes for newer drugs, high entry barriers, limited competition for the complex hospital generics (provides sustainable growth over the longer term) and the rising contribution from the fast growing consumer segment. We initiate coverage post demerger with a BUY rating and an SoTP-based target price of Rs200/share |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Piramal Pharma |
| State Bank of India is firing on all cylinders. Buy for Target Price of Rs 805: ICICI Securities | |
| Company: | SBI |
| Brokerage: | ICICI Securities |
| Date of report: | November 6, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 32% |
| Summary: | We expect NIM trajectory to sustain with repricing of lending book offsetting any deposit cost rise. Credit growth of 18% / 16%, stable NIMs, operating profit growth of 22% / 19% and credit cost of 0.8% / 0.9% will drive RoE to 18%/ 17% by FY23E/FY24E, respectively. This will help SBI command 1.7x FY24E core banking business book (earlier 1.5x Sep’23E). We revise our SoTPbased target price to Rs 805 (earlier: Rs 673) |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | SBI |
| Buy Hindustan Aeronautics for Target Price of Rs 2655: ICICI Securities | |
| Company: | Hindustan Aeronautics, ICICI Securities |
| Brokerage: | ICICI Securities |
| Date of report: | August 30, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 15% |
| Summary: | HAL has hired BCG for consultation to identify areas of potential diversification, business strategy, internal restructuring and improving operational efficiency. Some of the areas of diversification are civil MRO, passenger-to-freight conversion of aircraft, UAV simulators, etc. for capturing additional revenues. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Hindustan Aeronautics |
| Repco Home Finance: Business franchise is currently undervalued: ICICI Securities | |
| Company: | Repco Home Finance |
| Brokerage: | ICICI Securities |
| Date of report: | August 13, 2022 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 100% |
| Summary: | Under the leadership of new MD & CEO, Mr. K. Swaminathan, growth strategy seems to be delivering the right results. Company’s business franchise is currently undervalued – the stock trades below its FY23E book and at 3.4x FY23E earnings, and is available at <0.1x AUM. Maintain BUY with an unchanged target price of Rs470, assigning 1.1x Sep’23E book value |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Repco Home Finance |
| 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: | Result Update |
| 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: | 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: | Result Update |
| 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 |