Research Reports published by ICICI SECURITIES LIMITED

Heranba Industries Ltd.    
22 Feb 2021
ICICI Securities Limited
Heranba is one of the leading domestic producers of pyrethroids (~68% of FY20 revenues; 19.5% domestic market share in 2019). It is in the entire value chain of synthetic pyrethroids that provides flexibility to shift between products depending on the demand-supply and pricing dynamics. The company also has a strong pending product pipeline in pyrethroids including formulations filed by partners in domestic, export markets. Apart from this, more than half of the global demand for Pyrethroids comes from China. Hence, due to shutdown of chemical plants in China amid pollution,...
HDFC Securities released a IPO Note report for Heranba Industries Ltd. on 22 Feb, 2021.
Narayana Hrudayalaya Ltd.    
22 Feb 2021
439.30
-2.41%
ICICI Securities Limited
The expansion at Camana Bay is likely to improve HCCI's reach to patients both international and local, due to close proximity to the airport and several major residential complexes. Significant capital outlay notwithstanding, the new facility would complement the existing set up by focusing more on day care, short stay but niche categories of oncology care while the existing facility would continue to cater to tertiary and quaternary care. We expect the impact of this blended model to materialise from FY23 onwards. NH's experience in running hospital in this region could be handy...
ICICI Securities Limited decreased Buy price target of Narayana Hrudayalaya Ltd. to 545.0 on 22 Feb, 2021.
V-Guard Industries Ltd.    
19 Feb 2021
230.80
-0.02%
ICICI Securities Limited
V-Guard's performance in Q3FY21 was much ahead of our estimates mainly due to smart sales recovery followed by strong festive demand and market share gains from unorganised/regional players. The company also saw channel re-filling of key products ahead of peak season. According to the management, V-Guard will continue to focus on expanding its distribution network in non-south regions (~41% of revenue). Revenue of non-south regions posted phenomenal growth of 43% YoY, better than ~25% YoY revenue growth from south regions. Other than this, the company will also...
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V-Guard Industries Ltd. is trading above all available SMAs
Brokerage Research Reports    
TREND | 19 Feb 2021
Edelweiss released a report for Brokerage Research Reports on 25 Feb, 2021.
Brokerage Research Reports    
TREND | 19 Feb 2021
ICICI Securities Limited
Corporate earnings further gained momentum as economic activity rebounded in the post Covid unlocking era with optimism fuelled by the festive season. Q3FY21 earnings staged an impressive show and were broadly ahead of estimates as corporates continue to benefit from lower raw material costs and realised leaner cost structures. Management commentary was enthused by the recent growth oriented Union Budget by the central government with conducive macroeconomics supporting healthy growth prospects, going forward....
Edelweiss released a report for Brokerage Research Reports on 25 Feb, 2021.
Time Technoplast Ltd.    
18 Feb 2021
57.55
5.31%
ICICI Securities Limited
Time Technoplast reported an improved QoQ recovery in Q3FY21 supported by improved demand from user industries. While the management expects pre-Covid level sales in Q4FY21 over Q4FY20, the FY21 revenue recovery is likely to be in the range of 75-80%. Going forward, the management anticipates a normalised FY22 with focus on increased revenue contribution from value added product (currently ~21% of topline) and execution of orders in the PE pipe segment (order book is ~| 250 crore). On the balance sheet front, the company is looking at RoCE of ~20% in the...
Time Technoplast Ltd. has an average target of 43.00 from 1 broker.
Indian Bank    
18 Feb 2021
142.95
0.18%
buy
ICICI Securities Limited
Indian Bank reported a good set of Q3FY21 numbers relative to PSU peers. Asset quality on a notional/proforma basis remained steady while a pick-up in loan growth remained a positive. Business growth for the quarter showed improved traction as gross advances were up 7.5% YoY, 6.5% QoQ to | 389646 crore. Growth in advances was led by retail, agriculture and MSME segment, which were up 13% YoY, 11% YoY, respectively. Together they form ~56% of total advances. Corporate book growth was miniscule at 2% YoY amid cautious...
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Indian Bank has gained 117.58% in the last 3 Months
Graphite India Ltd.    
17 Feb 2021
488.95
2.85%
ICICI Securities Limited
During the quarter, overall recovery in steel production led to a small-pickup in graphite electrodes demand. Going forward, steel industry production growth trend is likely to continue with a healthy recovery in major steel consuming industries like construction and automobiles. The domestic steel industry is also poised to grow with the recent announcement of increased government spending on infrastructure. The combination of these factors may drive demand for steel and graphite electrodes in the near term. Graphite electrode prices have started to stabilise and a positive recovery is likely in coming quarters. Needle coke prices have also stabilised and may...
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Graphite India Ltd. has gained 104.50% in the last 3 Months
Varun Beverages Ltd.    
17 Feb 2021
1042.60
-0.48%
ICICI Securities Limited
Aggressive volumes push in summer to drive recovery, growth VBL suffered 13.7% volume decline in CY20 due to pandemic induced lockdown at the peak summer season. With the considerable increase in out of home activity & fully operational HORECA channel, VBL looks to push volumes aggressively in CY21 summer season. It has launched convenient SKUs & new products in last two quarters to propel demand for CSD. The company launched lemon fruit juice based drink under Mountain Dew' brand in February 2021. We expect 14.4% CAGR revenue growth during...
Varun Beverages Ltd. has gained 38.20% in the last 3 Months