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India Shelter, during its maiden Analyst Day, shared Vision 2030 – AUM of INR 300bn by FY30, implying a >25% CAGR with RoE of >17%. Superior execution of business strategies (~40% AUM CAGR and >50% PAT CAGR between FY20-24).
HealthCare Global Enterprises’ (HCG) current promoter CVC Capital (Aseco PTE) is likely to sell up to 54% of its stake in the company to another private equity (PE) firm, KKR, at an agreed price of INR 445/share (cumulative value between INR 320bn–339bn).
Havells’ EBITDA margin has declined from 12.6% in FY10 to 9.9% in FY24 and we model it to be 9.3% in FY25E. There are structural as well as cyclical/transitory reasons for the margin contractions.
We recently hosted the management of Solar Industries (SOIL) for an interaction with investors. Defence and exports & overseas segments could shepherd growth over the next five years.
Gujarat Fluorochemicals (GFL) is at the cusp of inflection in earnings growth with revenue / EBITDA / PAT CAGR estimated at 20.4%/ 33.4%/ 46% over FY25-27E.
CIE Automotive’s (CAIL) Q4CY24 consolidated PAT of INR 1.8bn was lower than consensus estimate of INR 1.9bn, with ~4% miss in revenue and ~100bps miss in EBITDA margin.
Chalet Hotels (CHALET) has announced the completion of the acquisition of 141 keys 5-star luxury hotel – The Westin Resort and Spa, Himalayas (TWRS) in Rishikesh at an acquisition cost of INR 5.3bn.
LIC has performed well with 9MFY25 VNB growth of 9.1% and H1FY25 EV growth of 24% YoY. Strategic initiatives have tracked well consistently in terms of pushing its product mix towards non-participating (28% of individual APE in 9MFY25 vs 18% in FY24 and 9% in FY23) and revision in pricing/product strategy to maximise value for all stakeholders with changes like hike in surrender value.
ABB India (ABB) reported a strong Q4CY24 result with revenue of INR 33.7bn (+22% YoY), EBITDA of INR 6.6bn (+58% YoY) and PAT of INR 5.3bn (+54% YoY). EBITDA margin continued its uptrend to 19.5% for the quarter (+440bps YoY).
Nazara Technologies (Nazara) delivered robust Q3FY25 growth, led by ad-tech and gaming segments. Growth in ad-tech was led by the recent acquisition in the UK (Space and Time Media).