BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Given the global uncertanities, we see reasonable opportunities across the market spectrum with key filter being quality. We continue to advise investors to utilise equities as a key asset class for long term wealth generation by investing in quality companies with strong earnings growth and visibility, stable cash flows, return on equity and return on capital employed.
Axis Bank Ltd. - Axis Bank is one of the largest private sector banks in India with a balance sheet size of Rs 11.5 lakh crore as on June 2022. In terms of advances, Axis Bank has reported ~13% compound annual growth rate in the last five years and is expected to grow at a CAGR of 16.3% in FY22-24E.
Eicher Motors Ltd. - Eicher Motors is market leader in the more than 250 cc premium motorcycle segment (market share ~85% plus ) through its aspirational models under the Royal Enfield brand, such as Classic, Meteor, etc. The company also has a presence in the commercial vehicle space (6.6% FY22 market share) via its joint venture with Volvo i.e. VE Commercial Vehicle Ltd. (Eicher has 54.4% stake). It has a strong net cash positive balance sheet with healthy return ratios metrics.
Laurus Labs Ltd. - Laurus Labs has multiple planned capacity expansions in portfolio based on complexity and scale towards strengthening and diversifying business by an increased focus on non-anti-retrovirals active pharma ingredients and formulations and high growth contract research and manufacturing services segments. Calibrated focus on CRAMs (half of the planned Rs 2000 crore capex earmarked for the same), stable API order book, increasing reactor volume, expansion of the biologic contract development and manufacturing organisation, product launches and capacity expansion are some key levers.
Click on the attachment for full list of ICICI Direct's Diwali stock picks:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
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