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Demat accounts in India reach 179 million in October  As Indian stock markets continue to outperform compared to a global market, the number of total demat accounts increased to 179 million in October, from 175 million in September, a report showed on Monday.   The Motilal Oswal Financial Services report, however, also said the new account additions declined to 3.5 million in October, with average monthly additions of 3.9 million in the current fiscal to date. It is the first time in the last four months when demat addition is belo...
Demat accounts in India reach 179 million in October
Demat accounts in India reach 179 million in October
Source: IANS
2024-11-11 05:41:25 pm
Nifty Bank index declined for third session in a row on Tuesday amid lackluster trading session - ICICI Direct Nifty : 25797 Technical Outlook Day that was.. The equity benchmark took a breather after Monday’s sharp decline. Nifty settled at 25797, down 14 points. Market breadth turned positive with A/D ratio of 1.4:1. Sectorally, IT, consumer durables outshone while oil & gas underperformed Technical Outlook: * The index consolidated in a narrow range after initial decline and settled the session on a flat note tracking muted global cues. The daily price action resulted into ...
Nifty Bank index declined for third session in a row on Tuesday amid lackluster trading session - ICICI Direct
Nifty Bank index declined for third session in a row on Tuesday amid lackluster trading session - ICICI Direct
Source: ICICI Direct
2024-10-03 09:44:48 am
Stock Picks : Pidilite industries Ltd And Steel Authority of India Ltd By ICICI Direct Pidilite industries Ltd Buy Pidilite industries Ltd @ 3225-3229 Target 3259.00 Stop Loss 3212.20   Steel Authority of India Ltd Buy Steel Authority of India Ltd @ 130-130.50 Target 129.20 Stop Loss 131.40   Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : Pidilite industries Ltd And Steel Authority of India Ltd By ICICI Direct
Stock Picks : Pidilite industries Ltd And Steel Authority of India Ltd By ICICI Direct
Source: ICICI Direct
2024-09-09 11:12:13 am
Premier Energies coming with IPO to raise Rs 2900.53 crore Premier Energies   Premier Energies is coming out with a 100% book building; initial public offering (IPO) of 6,44,56,281 shares of Rs 1 each in a price band Rs 427-450 per equity share.      Not more than 50% of the issue will be allocated to Qualified Institutional Buyers (QIBs), including 5% to the mutual funds. Further, not less than 15% of the issue will be available for the non-institutional bidders and the remaining 35% for the retail investors.  ...
Premier Energies coming with IPO to raise Rs 2900.53 crore
Premier Energies coming with IPO to raise Rs 2900.53 crore
Source: Accord Fintech
2024-08-24 03:58:19 pm
Stock Picks : Reliance Industries Ltd And National Aluminium Company Ltd By ICICI Direct Reliance Industries Ltd  Buy Reliance Industries Ltd @ 2972-2975 Target 3006.00 Stop Loss 2959.10   National Aluminium Company Ltd Buy National Aluminium Company Ltd @ 172-173 Target 175.00 Stop Loss 170.80   Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : Reliance Industries Ltd And National Aluminium Company Ltd By ICICI Direct
Stock Picks : Reliance Industries Ltd And National Aluminium Company Ltd By ICICI Direct
Source: ICICI Direct
2024-08-20 11:38:47 am
Stock Picks : GAIL India Ltd And Divis Laboratories Ltd By ICICI Direct GAIL India Ltd Buy GAIL India Ltd @ 230-231 Target 233.50 Stop Loss 229.40   Divis Laboratories Ltd  Buy Divis Laboratories Ltd  @ 4870-4875 Target 4926.00 Stop Loss 4846.00   Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : GAIL India Ltd And Divis Laboratories Ltd By ICICI Direct
Stock Picks : GAIL India Ltd And Divis Laboratories Ltd By ICICI Direct
Source: ICICI Direct
2024-08-13 10:36:02 am
Likely winners and losers from India's upcoming national budget India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities. After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas. While that could benefit consumer goods makers, real e...
Likely winners and losers from India's upcoming national budget
Likely winners and losers from India's upcoming national budget
Source: Reuters
2024-07-22 09:32:42 am
ICICI Securities sees 29% upside in Aadhar Housing Finance Limited Largest and most profitable AHFC; pioneering affordable housing space as a category creator Aadhar Housing Finance (Aadhar) has carved a niche for itself in affordable housing finance, pioneering the space as a category creator, armed with its distinct business-scaling strategy. As the industry chose safer shores of credit-tested markets in south and west India, Aadhar established its inaugural branch in Uttar Pradesh (UP) – uncharted territory for affordable housing finance; and wha...
ICICI Securities sees 29% upside in Aadhar Housing Finance Limited
ICICI Securities sees 29% upside in Aadhar Housing Finance Limited
Source: PR Agency
2024-07-16 08:56:56 am
Stock Picks : Dabur India Ltd And Power Grid Corporation of India By ICICI Direct Dabur India Ltd. Buy Dabur India Ltd @ 631-632 Target 639.00 Stop Loss 626.80   Power Grid Corporation of India Buy Power Grid Corporation of India @ 345-346 Target 349.50 Stop Loss 343.20   Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : Dabur India Ltd And Power Grid Corporation of India By ICICI Direct
Stock Picks : Dabur India Ltd And Power Grid Corporation of India By ICICI Direct
Source: ICICI Direct
2024-07-11 10:04:55 am
Stock Picks : Larsen&Toubro Ltd And TCS Ltd By ICICI Direct Larsen&Toubro Ltd. Buy Larsen&Toubro Ltd @ 3658-3662 Target 3696.00 Stop Loss 3639.00   TCS Ltd. Buy TCS Ltd @ 3658-3662 Target 3696.00 Stop Loss 3639.00   Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : Larsen&Toubro Ltd And TCS Ltd By ICICI Direct
Stock Picks : Larsen&Toubro Ltd And TCS Ltd By ICICI Direct
Source: ICICI Direct
2024-07-10 11:03:40 am
Stock Picks : GAIL Ltd And Chambal Fertiliser Ltd By ICICI Direct GAIL Ltd. Buy GAIL Ltd. @ 228.50-229.50 Target 232.80 Stop Loss 227.40   Chambal Fertiliser Ltd. Buy Chambal Fertiliser Ltd. @ 532-533 Target 539.50 Stop Loss 529.30   Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : GAIL Ltd And Chambal Fertiliser Ltd By ICICI Direct
Stock Picks : GAIL Ltd And Chambal Fertiliser Ltd By ICICI Direct
Source: ICICI Direct
2024-07-09 10:58:15 am
IIFL Samasta Finance adds three members to its Board  IIFL Samasta Finance, one of India’s largest non-banking microfinance companies (NBFC-MFI), has announced the appointment of three members to its Board of Directors. This strategic move reflects the company's commitment to further strengthen its governance structure and drive continued growth and innovation in the microfinance sector. The three members include the Co-promoter of IIFL Group, R. Venkataraman, former Chairman of NABARD, Dr. Govinda Rajulu Chintala, and form...
IIFL Samasta Finance adds three members to its Board
IIFL Samasta Finance adds three members to its Board
Source: IANS
2024-04-27 10:04:13 am
ICICI Securities Limited - Q4FY24 Result Update by ARETE Securities Ltd ICICI Securities Limited has posted impressive Q4FY24 results, marked by a robust 50% overall revenue growth and significant improvements in market share across various revenue-generating metrics. This growth primarily stems from enhanced broking revenues and a slight improvement in Opex ratios. The company's strategic initiatives are evidently paying off, leading to notable enhancements across key focus areas. Profit after Tax has surged to Rs. 537 crore, marking a substantial 104% YoY i...
ICICI Securities Limited - Q4FY24 Result Update by ARETE Securities Ltd
ICICI Securities Limited - Q4FY24 Result Update by ARETE Securities Ltd
Source: ARETE Securities Ltd
2024-04-27 10:01:44 am
Buy ICICI Securities Ltd For Target Rs.704 - Motilal Oswal Financial Services Ltd IB revenue and MTF book drive overall profitability * ICICI Securities (ISEC)’s 4QFY24 revenue grew 74% YoY to ~INR15.4b (14% above our estimates). This was driven by growth in broking income in the Cash segment and growth in Investment Banking segment. Revenue for FY24 came in at INR50.5b. * Allied activities revenue was up 84% YoY, contributing 28% to total revenue. This was mainly driven by 83% YoY growth in the MTF book. * During the quarter, the C/I ratio came in at 53.4% ...
Buy ICICI Securities Ltd For Target Rs.704 - Motilal Oswal Financial Services Ltd
Buy ICICI Securities Ltd For Target Rs.704 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-04-20 10:05:52 am
Shapoorji Pallonji-backed Afcons Infrastructure files for $840 million India IPO India's Afcons Infrastructure, a unit of the Shapoorji Pallonji conglomerate, has filed for an initial public offering worth up to 70 billion rupees ($840 million), draft papers filed with the market regulator showed on Friday. The IPO will consist of a fresh issue of shares worth up to 12.50 billion rupees and a sale of shares by Shapoorji Pallonji unit Goswami Infratech of up to 57.5 billion rupees. The share float comes as India's blue-chip Nifty 50 index has repeatedly hit r...
Shapoorji Pallonji-backed Afcons Infrastructure files for $840 million India IPO
Shapoorji Pallonji-backed Afcons Infrastructure files for $840 million India IPO
Source: Reuters
2024-03-30 09:48:01 am
India`s ICICI Securities gets shareholder nod to delist, setting up merger with ICICI Bank  India's ICICI Securities has secured shareholders' nod to delist its stock, the brokerage said in the early hours of Thursday, paving the way to merge with parent and majority shareholder ICICI Bank. About 71.9% of the brokerage's minority shareholders voted in favour of delisting, exceeding the regulatory requirement of a two-thirds majority for a resolution to pass. Among public institutional investors, which own a total 16.68% in the company, 83.8% voted in favour o...
India`s ICICI Securities gets shareholder nod to delist, setting up merger with ICICI Bank
India`s ICICI Securities gets shareholder nod to delist, setting up merger with ICICI Bank
Source: Reuters
2024-03-28 09:21:11 am
Sector Update : ICICI Securities Ltd - Motilal Oswal Financial Services Ltd IB revenue and MTF book drove overall profitability * ICICI Securities (ISEC)’s 3QFY24 revenue grew 50% YoY to ~INR13.2b (in line with our estimate).  * Retail brokerage revenue rose 46% YoY to INR4.8b (5% lower than estimate). The growth in revenue for allied activities was aided by MTF income. * During the quarter, the C/I ratio moderated to 52.9% from 54.4% in 2QFY24 (vs. est. of 55.1%). ISEC’s reported PAT jumped 66% YoY to INR4.7b (6% higher than our estimate).&...
Sector Update : ICICI Securities Ltd - Motilal Oswal Financial Services Ltd
Sector Update : ICICI Securities Ltd - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-03-16 11:26:04 am
Nifty snaps two-day decline in choppy trading session  Nifty rebounded on Tuesday, snapping a two-day decline in a choppy trading session, said Deepak Jasani, Head of Retail Research at HDFC Securities. While the Nifty50 settled 0.34 per cent, or 76.3 points, higher at 22,198.35 on Tuesday, the BSE Sensex added 0.42 per cent, or 305.09 points, to close at 73,095.22. The broad market indices ended marginally in the negative as the activity levels were concentrated in large and larger midcaps, Jasani said. Meanwhile, foreign portfoli...
Nifty snaps two-day decline in choppy trading session
Nifty snaps two-day decline in choppy trading session
Source: IANS
2024-02-27 06:07:31 pm
With unsecured personal loans under lens, growth momentum in the segment to derail in coming quarters Considering the recent regulatory developments and commentary, growth momentum in unsecured personal loans category is likely to derail in the coming quarters, ICICI Securities said in a report. NBFCs are witnessing a very strong credit cycle, both in terms of growth as well as asset quality, but higher credit growth in unsecured personal loans (since Covid) triggered a cause for concern. Accelerated growth in unsecured loans grabbed the regulator’s (RBI) attention and it has proa...
With unsecured personal loans under lens, growth momentum in the segment to derail in coming quarters
With unsecured personal loans under lens, growth momentum in the segment to derail in coming quarters
Source: IANS
2024-02-27 10:15:55 am
Stock Picks : Reliance Industries Ltd And Adani Ports Ltd By ICICI Direct Reliance Industries Buy Reliance Industries Ltd @ 2941-2943 ; Target 2972.00 ; Stop Loss 2927.00     Adani Ports Ltd Buy Adani Ports Ltd @ 1300-1302 ; Target 1315.00 ; Stop Loss 1293.00           Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631     ...
Stock Picks : Reliance Industries Ltd And Adani Ports Ltd By ICICI Direct
Stock Picks : Reliance Industries Ltd And Adani Ports Ltd By ICICI Direct
Source: ICICI Direct
2024-02-21 10:42:50 am
State-backed Oil India`s third-quarter profit falls on lower crude prices State-run explorer Oil India reported a 9.3% fall in third-quarter profit on Tuesday, hit by lower prices for crude oil and a windfall tax levied by the government. Standalone profit was 15.84 billion rupees ($191 million) for the quarter ended Dec. 31, compared with 17.46 billion rupees a year earlier. Average crude prices fell 6.5% in the December quarter, as per LSEG data. The Indian government's windfall tax on crude oil producers since July 2022 has also hurt its bottom line. ...
State-backed Oil India`s third-quarter profit falls on lower crude prices
State-backed Oil India`s third-quarter profit falls on lower crude prices
Source: Reuters
2024-02-13 05:30:57 pm
India`s swap rates hint at late start to rate cuts, traders say  Indian debt market participants have pushed their expectations for the start of rate cuts by at least two months following the hawkish tone of the latest monetary policy statement, as reflected in the overnight index swap (OIS) market, traders said. "From the swap market move, we can extrapolate that the chances of rate cuts have been pushed back further to at least the third quarter of next fiscal," Alok Singh, group head of treasury at CSB Bank in Mumbai, said. "R...
India`s swap rates hint at late start to rate cuts, traders say
India`s swap rates hint at late start to rate cuts, traders say
Source: Reuters
2024-02-13 05:26:04 pm
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales Indian tyre maker MRF reported a three-fold rise in third-quarter profit on Friday, helped by an uptick in two-wheeler sales. MRF, the country's top tyre maker and the most expensive stock, said its profit from continuing operations for the three months ended Dec. 31 rose to 5.08 billion rupees (around $61 mln) from 1.69 billion rupees. The results are largely in line with those of other tyre makers, who reported profits that grew between 70% and 400%. Analysts said MRF, unlike f...
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales
Source: IANS
2024-02-09 01:33:07 pm
Analysis-Investors dig into India`s stock market as China flounders, discount risks  India's $4 trillion stock market is pulling in billions of dollars of domestic and foreign money as investors flock to a fast-growing alternative to China, brushing aside risks around overpriced shares, upcoming elections and regulatory uncertainty. The stream of investment has lifted the benchmark NSE Nifty 50 Index by a third in the last 10 months and attracted $20 billion in foreign inflows in 2023, according to India's national depository data. India's allure is ri...
Analysis-Investors dig into India`s stock market as China flounders, discount risks
Analysis-Investors dig into India`s stock market as China flounders, discount risks
Source: Reuters
2024-02-05 11:13:38 am
Indian dairy firm Hatsun Agro`s Q3 profit rises 24%, slowest in three quarters  India's Hatsun Agro Product, which sells products under brands such as Arun IceCreams and Arokya Milk, reported its slowest quarterly profit growth in three quarters, hurt by heavy floods in its home state of Tamil Nadu. Last month, cyclone Michaung flooded a large part of the southern Indian state, which is home to 13 of Hatsun's 20 milk processing plants and, according to ICICI Securities, accounts for over half of the company's revenue. The Chennai-based company'...
Indian dairy firm Hatsun Agro`s Q3 profit rises 24%, slowest in three quarters
Indian dairy firm Hatsun Agro`s Q3 profit rises 24%, slowest in three quarters
Source: Reuters
2024-01-19 03:31:24 pm
Company Update : ICICI Securities Limited by ARETE Securities Ltd ICICI Securities Limited reported robust Q3FY24 results, showcasing a substantial 50% overall revenue growth and notable market share improvements across various revenue-generating parameters. The Profit after Tax surged to 466 crore, reflecting a significant 66% YoY increase and a 10% QoQ rise. The company's success is attributed to effective diversification strategies and a customer-centric coverage model. Key highlights include a 12% sequential growth and a remarkable 56% YoY increase ...
Company Update : ICICI Securities Limited by ARETE Securities Ltd
Company Update : ICICI Securities Limited by ARETE Securities Ltd
Source: ARETE Securities Ltd
2024-01-19 02:35:33 pm
ICICI Securities Q3FY24 results Print this mail only if absolutely necessary. Save Paper. Save Trees." "The information contained in this e-mail and any attachments to this message are intended for the exclusive use of the intended recipient and may contain proprietary, confidential or legally privileged information. If you are not the intended recipient, please note that you are not authorised to disseminate, distribute or copy this e-mail or any parts of it or act upon/rely on the contents of this e-mail in any ...
ICICI Securities Q3FY24 results
ICICI Securities Q3FY24 results
Source: PR Agency
2024-01-18 10:31:01 am
Centrum Appoints Manish Jain as Head of Fund Management (PMS & Equity Advisory) Centrum Group (Centrum), one of India’s leading diversified banking & financial services and insurance (BFSI) organization, today announced the appointment of Manish Jain as Head of the Fund Management businesses. He will lead and manage Centrum’s Portfolio Management Services (PMS) and Non-discretionary Equity Advisory verticals. Manish comes with a proven track record of over 20 years in the Indian equities market, managing equity funds, driving high quality equity resear...
Centrum Appoints Manish Jain as Head of Fund Management (PMS & Equity Advisory)
Centrum Appoints Manish Jain as Head of Fund Management (PMS & Equity Advisory)
Source: PR Agency
2024-01-11 02:49:09 pm
Euro is likely to rise back towards 1.1080 level amid expectation of correction in dollar - ICICI Direct Currency Outlook Rupee Outlook • Rupee depreciated marginally yesterday amid muted domestic market sentiments and dollar demand from importers. Additionally, trading activity remained subdued as most global markets were shut on account of New Year’s holiday. • Rupee is likely to trade with positive bias amid expectation of correction in dollar and US treasury yields as market weigh the prospect of steep interest rate cuts from US Fed in 2024. Further, investors will r...
Euro is likely to rise back towards 1.1080 level amid expectation of correction in dollar - ICICI Direct
Euro is likely to rise back towards 1.1080 level amid expectation of correction in dollar - ICICI Direct
Source: ICICI Direct
2024-01-02 10:23:05 am
India cenbank to retain hawkish pause on rates; keep liquidity tight The Reserve Bank of India's (RBI) key lending rate is set to be held steady on Friday with inflation control retaining prominence amid expectations of a spike in food prices in coming months and better than expected economic growth. The six-member monetary policy committee (MPC), consisting of three RBI and three external members, is expected to keep the repo rate unchanged at 6.50% for a fifth straight policy meeting as per a unanimous consensus in a Reuters poll. It has raised the...
India cenbank to retain hawkish pause on rates; keep liquidity tight
India cenbank to retain hawkish pause on rates; keep liquidity tight
Source: Reuters
2023-12-08 09:07:05 am
Bengaluru-based Stanley Lifestyles gets Sebi nod for IPO Bengaluru-based Stanley Lifestyles Ltd has received final observation from the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).  The company filed the DRHP for its initial public offering with SEBI on September 4, 2023.  The IPO, with a face value of Rs 2 consists of a fresh issue of up to Rs 200 crore and an offer for sale (OFS) of up to 9.13 million equity shares by the promoter and investo...
Bengaluru-based Stanley Lifestyles gets Sebi nod for IPO
Bengaluru-based Stanley Lifestyles gets Sebi nod for IPO
Source: PR Agency
2023-12-06 12:31:22 pm
ICICI Bank gets RBI nod for making ICICI Securities its wholly-owned subsidiary  ICICI Bank said on Thursday that it has received the Reserve Bank of India’s (RBI) clearance for making ICICI Securities its wholly-owned subsidiary. "We would like to inform you that today the bank has received approval from Reserve Bank of India for making ICICI Securities a wholly owned subsidiary, subject to certain conditions," the bank said in an exchange notification. ICICI Securities had on June 29 announced that it will delist and become a wholly-owned sub...
ICICI Bank gets RBI nod for making ICICI Securities its wholly-owned subsidiary
ICICI Bank gets RBI nod for making ICICI Securities its wholly-owned subsidiary
Source: IANS
2023-11-10 10:56:01 am
Buy SBFC Finance Ltd For Target Rs.115 - ICICI Securites Pan-India MSME financier; high visibility on >30% AUM growth in near term SBFC Finance (SBFC) is a direct play on ‘increasing formalisation of MSME financing,’ with its a) most diversified distribution network (presence in >15 states with no single state contributing >20% of AUM), targeting formal MSME customers (ITR is mandatory for all borrowers), b) in-house operations divided into six independent verticals, and c) highly experienced management team having the poten...
Buy SBFC Finance Ltd For Target Rs.115 - ICICI Securites
Buy SBFC Finance Ltd For Target Rs.115 - ICICI Securites
Source: ICICI Securities
2023-11-06 11:56:59 am
Update on ICICI Securities Limited By ARETE Securities On October 16, 2023, ICICI Securities Limited announced strong Q2FY24 results, featuring an impressive 45% year-onyear (YoY) revenue growth and a substantial 34% increase sequentially. These results can be attributed to effective diversification efforts and a customer-centric coverage model. Throughout the quarter, most performance indicators continued to trend upward, and the company saw noticeable gains in market share. Notably, the wealth management segment showed a 7% growth on a seque...
Update on ICICI Securities Limited By ARETE Securities
Update on ICICI Securities Limited By ARETE Securities
Source: ARETE Securities Ltd
2023-10-19 12:45:22 pm
ESAF Small Finance Bank gets Sebi nod for IPO ESAF Small Finance Bank Ltd, is a Small Finance Bank with a focus on unbanked and under-banked customer segments, especially in rural and semi-urban areas has?received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).The company?had refiled preliminary IPO papers with Sebi in July 2023.The IPO includes a fresh issue up to Rs 486.74 crore and an offer for sale of up to Rs 142.30 crore by...
ESAF Small Finance Bank gets Sebi nod for IPO
ESAF Small Finance Bank gets Sebi nod for IPO
Source: PR Agency
2023-10-18 11:27:33 am
MCX Silver is expected to hold the support near 70200 and extend its gains towards 72800 - ICICI Direct Metal?s OutlookBullion Outlook? Spot gold is likely to find support near $1900 and rise towards $1950 amid increasing geopolitical risk in the Middle East. The safe haven buying in the metal would support the trend to remain bullish. Further, increasing probability of Fed pause in its next meeting would also support the bullions to hold its gains. The CME Fed-watch tool indicates more than 93% probability that the Fed will hold the rates unchanged in November. ? MCX Gold prices is like...
MCX Silver is expected to hold the support near 70200 and extend its gains towards 72800 - ICICI Direct
MCX Silver is expected to hold the support near 70200 and extend its gains towards 72800 - ICICI Direct
Source: ICICI Direct
2023-10-16 11:19:41 am
Auto Ancillaries Sector Update : Automotive tyres: Margins to begin wearing out; re-rating traction limited By ICICI Securities Automotive tyres: Margins to begin wearing out; re-rating traction limitedIndia?s automotive tyre space gross profit/kg improved from the Q1FY23 lows of ~INR 73 (in line with 10-year mean levels) to reach highs of ~INR 95 in the past couple of quarters (above mean + 1-standard deviation at INR 84). Going by historical trends, the industry has hardly sustained such profitability beyond three consecutive quarters and seen a mean reversion back to below mean + 1-SD levels. Thus, with Brent cr...
Auto Ancillaries Sector Update : Automotive tyres: Margins to begin wearing out; re-rating traction limited By ICICI Securities
Auto Ancillaries Sector Update : Automotive tyres: Margins to begin wearing out; re-rating traction limited By ICICI Securities
Source: ICICI Securities
2023-09-29 12:30:34 pm
Buy Tatva Chintan Pharma Chem Ltd For Target Rs 2,000 - ICICI Securities Core business normalising; new products pipeline maturingIn FY23, Tatva Chintan (TATVA) earnings were hurt from a downcycle in its SDA business, which should resume growing FY24 onwards. The addition of a significant new customer to its SDA has the potential to propel growth in the near future. PASC segment will likely reap the benefit of products under qualification and long-term growth on the back of a robust pipeline and cleaner chemistry positioning. Electrolyte salt business anticipates ...
Buy Tatva Chintan Pharma Chem Ltd For Target Rs 2,000 - ICICI Securities
Buy Tatva Chintan Pharma Chem Ltd For Target Rs 2,000 - ICICI Securities
Source: ICICI Securities
2023-09-29 12:18:18 pm
NBFC Sector Update : Small ticket LAP: <10% penetration implies huge untapped opportunity By ICICI Securites Small ticket LAP: <10% penetration implies huge untapped opportunity  Our recent interaction with financiers suggests most players are actively pursuing small ticket LAP (S-LAP) segmentover medium ticket LAP. As per CRISIL MI&A, the estimated market size for S-LAP stands at INR 22trn, of which lendershave captured only INR 1.8trn (ticket size of up to INR 1.5mn) as on Mar?23, implying <10% penetration. Currently, SLAP market is concentrated in five states namely Maharashtr...
NBFC Sector Update : Small ticket LAP: <10% penetration implies huge untapped opportunity By ICICI Securites
NBFC Sector Update : Small ticket LAP: <10% penetration implies huge untapped opportunity By ICICI Securites
Source: ICICI Securities
2023-09-27 01:12:18 pm
Reduce Strides Pharma Science Ltd For Target Rs.495 - ICICI Securities Regrouping CDMO pieces to unlock valueStrides Pharma (Strides) is streamlining its CDMO business by merging its soft gel capsule business and injectable business of Steriscience with Stelis. It will also rename Stelis to OneSource after completion, and regrouping will help the promoter better align the focus on all the arms of the CDMO business. The combined entity is likely to have revenue of USD 180-200mn in FY25E and management expects to grow 20-25% p.a. thereon. In the near term, inje...
Reduce Strides Pharma Science Ltd For Target Rs.495 - ICICI Securities
Reduce Strides Pharma Science Ltd For Target Rs.495 - ICICI Securities
Source: ICICI Securities
2023-09-27 01:04:32 pm
Buy Brigade Enterprises Ltd For Target Rs.695 - ICICI Securities Building a war chest for growthBrigade Enterprises has been beefing up its land reserves so far in YTDFY24 with three large land acquisitions (one each in Hyderabad, Chennai and Bengaluru) having a cumulative estimated GDV of INR53bn. With a residential launch pipeline of ~8msf over the 12 months, we model for residential sales bookings of INR45.8bn in FY24E and INR51.3bn in FY25E. Further, we expect the company to clock rental NOI CAGR of 16% over FY22-25E to INR6.2bn led by lease-up of v...
Buy Brigade Enterprises Ltd For Target Rs.695 - ICICI Securities
Buy Brigade Enterprises Ltd For Target Rs.695 - ICICI Securities
Source: ICICI Securities
2023-09-26 03:27:52 pm
Auto Ancillaries Sector Update : Options galore; which ones to choose from the lot By ICICI Securities Options galore; which ones to choose from the lotWe have analysed various auto ancillary businesses based on valuation multiples, likely earnings growth, RoE and several business risks. We believe there are some outliers in the list, on either side, in terms of valuation vs business fundamentals/risk led by fears of EV-led business disruption or EV-led opportunity driving higher growth. For long-term investment purpose, we prefer businesses with minimal exposure to CV cyclicality, minimal ...
Auto Ancillaries Sector Update : Options galore; which ones to choose from the lot By ICICI Securities
Auto Ancillaries Sector Update : Options galore; which ones to choose from the lot By ICICI Securities
Source: ICICI Securities
2023-09-26 03:21:38 pm
India Cements Sector Update : Non-core asset sale – a sentimental positive By ICICI Securities Non-core asset sale ? a sentimental positiveIndia Cements (ICEM) is ?walking-the-talk? regarding the sale of its non-core assets. In a second such transaction, ICEM has agreed to sell its surplus land in Andhra Pradesh (near Vizag) for INR 700mn to industry-leader UltraTech Cement (UTCEM). In Oct?22, ICEM sold its entire stake in subsidiary Springway Mining Pvt Ltd (SMPL) to JSW Cement for INR 4.77bn. While the move is certainly a step in the right direction, we believe ICEM will need to m...
India Cements Sector Update : Non-core asset sale – a sentimental positive By ICICI Securities
India Cements Sector Update : Non-core asset sale – a sentimental positive By ICICI Securities
Source: ICICI Securities
2023-09-25 02:10:36 pm
Hold Cera Sanitaryware Ltd For Target Rs.8,262 - ICICI Securities Near-term demand tepidness, 2HFY24 to be much betterWe recently interacted with the management of Cera Sanitaryware (CRS). Key takeaways: 1) Demand scenario in Q2- TD has been tepid as higher overall inflationary conditions have resulted in some temporary slackness. CRS expects demand to be much stronger in H2FY24 and has reiterated its ~20% YoY revenue growth guidance for FY24. 2) Margins to remain steady at ~16% as raw material costs remain benign. 3) Brownfield expansion of faucetware f...
Hold Cera Sanitaryware Ltd For Target Rs.8,262 - ICICI Securities
Hold Cera Sanitaryware Ltd For Target Rs.8,262 - ICICI Securities
Source: ICICI Securities
2023-09-25 01:30:26 pm
Economy Sector Update : We expect US real GDP to grow above 4% QoQsaar in Q3CY23, By ICICI Securities FOMC?s Goldilocks projections overlook impending fiscal drag, especially from student-loan repaymentsWe expect US real GDP to grow above 4% QoQsaar in Q3CY23, inducing a further 25bp hike in the Fed Funds rate at the FOMC?s meeting on 1st Nov?23. At this week?s meeting, the FOMC?s median projections suggested a Goldilocks economy in CY23, with real GDP growing 2.1% (vs the projection of 1% in Jun?23) while core PCE inflation was projected to end CY23 at 3.7% (vs 3.9% previously). But the ...
Economy Sector Update : We expect US real GDP to grow above 4% QoQsaar in Q3CY23, By ICICI Securities
Economy Sector Update : We expect US real GDP to grow above 4% QoQsaar in Q3CY23, By ICICI Securities
Source: ICICI Securities
2023-09-25 01:12:51 pm
Add ITC Ltd For Target Rs. 500 - ICICI Securities CXO 1*1: Supratim Dutta, CFOWe launch a new report series on CXO 1x1. We met Supratim Dutta, ED & CFO, ITC. Takeaways: 1) Volume growth momentum in cigarettes is likely to continue driven by a stable tax environment and relative end price stability. 2) Premiumisation across segments driven by innovation and differentiation. 3) Growth in FMCG segment to be driven by fortifying core categories (Staples, Biscuits, Noodles, Snacks, Personal Care) while expanding into adjacencies. In small...
Add ITC Ltd For Target Rs. 500 - ICICI Securities
Add ITC Ltd For Target Rs. 500 - ICICI Securities
Source: ICICI Securities
2023-09-25 01:02:59 pm
Buy Tech Mahindra Ltd For Target Rs. 1,552 - Emkay Global Turnaround around the corner, low hanging fruits around margins; Upgrade to ?BUY? We believe, EBIT margin improvement is a low hanging fruit for TechM?s new CEO Mr. Mohit Joshi; however, top line revival may take some time. That said, Mr Joshi?s opening gambit (appointment of COO Mr. Atul Soneja and an internal reshuffle) bolsters our conviction for a successful turnaround. On balance, we also take cognizance that this is contingent on improving capabilities and filling white spaces in no...
Buy Tech Mahindra Ltd For Target Rs. 1,552 - Emkay Global
Buy Tech Mahindra Ltd For Target Rs. 1,552 - Emkay Global
Source: ICICI Securities
2023-09-21 03:28:33pm
Reduce Capri Global Capital Ltd For Target Rs.695 - ICICI Securities Capri Global Capital (Capri), in its analyst day on Sep 15, ?23, reiterated its vision to grow its portfolio to INR 30bn in the next five years, while continuing to pursue ?granularisation? strategy. New products, i.e. gold loans, car loan distribution and colending are likely to be its primary growth drivers, coupled with >30% growth in existing product segments. The management also highlighted its plans to heavily invest in technology/data science (~INR 500mn budgeted for FY24) in orde...
Reduce Capri Global Capital Ltd For Target Rs.695 - ICICI Securities
Reduce Capri Global Capital Ltd For Target Rs.695 - ICICI Securities
Source: ICICI Securities
2023-09-20 02:25:34pm