ICICI Bank Ltd. (ICICIB) is the largest private bank in India with business size stood at Rs10,227.9 bn as of Dec'31 2017. While the under provisioning for NCLT List 2 and RBI revised norms of stressed assets to increase provisions in the near term which will impact profitability, ICICIB is likely to get benefit on the back strong focus on retail segment, better rated corporates, robust liability franchise and declining slippage. The impact of NCLT loans provisioning and slippage from restructuring schemes would be limited given the huge business size of the bank. Further, the latest correction makes stock valuation attractive for investment perspective. Our...
Exide Industries Limited (Exide) is India's most reliable brand and largest manufacturer of all types of batteries. Exide has become front runner with its lead acid batteries and power storage solutions. The company luxuriates in strategically located factories across 9 destinations in India, of which 7 are devoted to batteries and the other 2 are devoted to manufacture Home UPS systems. The company manufactures a wide range of products for automotive battery namely 4W batteries, 3W batteries, 2W batteries , Inverter batteries, Genset...
Valuation: We are positive on the company backed by the implementation of GST that will boost the revenue of the organized sector and on the account of investment made by the company to diversify its product portfolio which will boost its revenue. At CMP of Rs.1593.1, it is trading at a P/E multiple of 19.8x and 17.1x to its FY18E and FY19E earnings, respectively. On the basis of estimates, we arrive at a target price in...
Leading mid-priced hotel chain with a differentiated business model Strategically positioned in key geographical areas Present across the value chain Focus on brand excellence, providing a value-for money proposition...
GIC Housing Finance Ltd. (GICHF), incorporated in Dec 1989, is one of the old housing finance companies in India. Loan book of the company has been growing at significant at ~20% over the past few quarters, NIM was maintained at around 3.8%. While competitive lending rate and rising yield can put pressure on margins, the company is moving into a ambit of strong growth and profitability which would provide support to sustain NIM at comfortable level. GNPA at 3.3% by Q3FY18 was on higher side compared to peers, efforts related to R&U; of NPAs and reducing exposure to LAP portfolio are the key GICHF's initiatives towards improving assets...
ICICI Securities Ltd. (ISEC) is a leading technology based securities firm in India that offers a wide range of financial services including brokerage, financial product distribution and investment banking; and focuses on both retail and institutional clients....
In the Financial Year 2017-18, continued investments in infrastructure and implementation of reforms such as GST, if coupled with a normal monsoon, is expected to spur the domestic growth momentum. Company expects that the investments in the IT/ITES sector and particular in datacenter capacity would sustain the growth in the high horse power segment,...
Hero MotoCorp Limited is a two-wheeler manufacturer. The Company manufactures and sells motorized two wheelers up to 350 cubic centimeters (cc) engine capacity, spare parts and related services. Its manufacturing plants are located in Dharuhera, Haryana; Gurgaon, Haryana; Haridwar, Uttarakhand; Neemrana, Rajasthan, and Villa Rica, Colombia. Its research and development center is located in Jaipur, Rajasthan. It has a Global Parts Centre for manufacturing and supplying the parts at local and global markets at Neemrana, Rajasthan....
Valuation: At CMP of Rs. 208 ,Hikal Ltd. is trading at a P/E multiple of 21.6(x) compared to the industry peer of 36.5(x). The company has an upside potential of 20% to 25% in the next 12 to 18 months. We arrive at a target price in range of...
Samkrg Pistons And Rings Limited is engaged in the manufacture of auto components, such as piston assemblies. The Company manufactures and supplies pistons, piston pins and piston rings for gasoline and diesel internal combustion (I.C) engines for scooters, motorcycles, cars, tractors, light commercial vehicles (LCV's), stationary engines and other special applications from 35 millimeters (mm) to 130 mm diameter. Its piston pins are made in various alloy steels and heat treated. Pistons pumps have a wide pressure range, which can reach high pressures and...
