Posts tagged ICICI Securities
| 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 |
| 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: | Result Update |
| 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 |
| 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: | Result Update |
| 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: | IT Sector |
| 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: | Result Update |
| 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: | SBI |
| Buy HDFC Ltd for target price of Rs. 3100 (26% upside): ICICI-Direct | |
| Company: | HDFC |
| Brokerage: | ICICI-Direct |
| Date of report: | August 2, 2021 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 26% |
| Summary: | Steady operations; business to pick up from here on… |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC |