CHOLAMANDALAM INVESTMENT AND FINANCE Stock Research Report by ICICI Securities Sector: Finance – NBFC CMP Rs. 950, Target Rs. 1022 (8% upside potential) Target Period: 12 Months CHOLAMANDALAM INVESTMENT AND FINANCE Stock Research Report: Industry-leading growth in CV upcycle yet again characterises company’s prowess Cholamandalam Investment and Finance (Chola) has in the past stood out […]
Read more..KEC INTERNATIONAL Stock Research Report by ICICI Securities Sector: Engineering – Construction CMP Rs. 514, Target Rs. 590 (15% upside potential) Target Period: 12 Months KEC INTERNATIONAL Stock Research Report: Execution robust; margins key monitorable KEC International’s (KECI) Q4FY23 performance was ahead of our estimates with revenues up 29%/26% YoY/QoQ to ~Rs55bn, led by a […]
Read more..TVS MOTOR COMPANY Stock Research Report by ICICI Securities Sector: Automobile – 2 & 3 Wheelers CMP Rs. 1169, Target Rs. 1363 (17% upside potential) Target Period: 12 Months TVS MOTOR COMPANY Stock Research Report: Profitability per unit continues to improve TVS Motor’s (TVSL) Q4FY23 EBITDA margin at 10.3% (up 22bps QoQ) was in line […]
Read more..SOLAR INDUSTRIES Stock Research Report by ICICI Securities Sector: Commodity Chemicals CMP Rs. 3848, Target Rs. 4700 (22% upside potential) Target Period: 12 Months SOLAR INDUSTRIES Stock Research Report: Volumes and defence lead growth Solar Industries’ (Solar) Q4FY23 consolidated EBITDA of Rs3.6bn (up 36% YoY) was 14% ahead of the street’s estimates. Key points: 1) […]
Read more..KANSAI NEROLAC PAINTS Stock Research Report by ICICI Securities Sector: Paints CMP Rs. 403, Target Rs. 375 (7% downside potential) Target Period: 12 Months KANSAI NEROLAC PAINTS Stock Research Report: Recovery in automotive paint profitability and early signs of benefits due to investments in decorative Kansai reported strong Q4FY23 led by (1) price hikes in […]
Read more..GREENPANEL INDUSTRIES Stock Research Report by ICICI Securities Sector: Wood & Wood Products CMP Rs. 309, Target Rs. 505 (63% upside potential) Target Period: 12 Months GREENPANEL INDUSTRIES Stock Research Report: Tepid quarter; structural outlook remains positive Greenpanel Industries (GREENP) has reported Q4FY23 blended MDF volume growth of 10.2% YoY (4-year CAGR of 20.4%) driven […]
Read more..UPL Stock Research Report by ICICI Securities Sector: Pesticides & Agrochemicals CMP Rs. 715, Target Rs. 800 (12% upside potential) Target Period: 12 Months UPL Stock Research Report: Increase in supplies from China led to inventory losses; model impact to continue in H1FY24 Post lifting covid led restrictions, there is strong revival in supplies of […]
Read more..360 ONE WAM Stock Research Report by ICICI Securities Sector: Finance – Others CMP Rs. 426, Target Rs. 519 (22% upside potential) Target Period: 12 Months 360 ONE WAM Stock Research Report: Harnessing growth levers profitably in new geographies and target segments will be key 360 One WAM Ltd (IIFLW) has guided for a profit […]
Read more..APTUS VALUE HOUSING FINANCE Stock Research Report by ICICI Securities Sector: Finance – Housing CMP Rs. 258, Target Rs. 325 (26% upside potential) Target Period: 12 Months APTUS VALUE HOUSING FINANCE Stock Research Report: Credit cost trajectory continued to decline; AUM growth remained strong at 30% YoY In Q4FY23, Aptus Value Housing Finance (Aptus) announced […]
Read more..ABB INDIA Stock Research Report by ICICI Securities Sector: Electric Equipment CMP Rs. 3719, Target Rs. 4152 (12% upside potential) Target Period: 12 Months ABB INDIA Stock Research Report: All is well A solid quarter. Q1CY23 result ticked all the right boxes. ABB reported a strong order inflow – grew 36% YoY. Order inflow has […]
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