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ICICI Securities Report
Akums Drugs and Pharmaceuticals, Central Depository Services (CDSL), Ceigall India and Power Mech Projects are in focus after ICICI Securities reviewed their Q1 FY27 performances.
The brokerage retained Buy ratings on Akums Drugs and Power Mech Projects, upgraded Ceigall India to Add from Hold, while maintaining Reduce on CDSL.
The Q1 reviews highlight strong CDMO momentum at Akums, a robust thermal and mining opportunity pipeline for Power Mech, improving valuation comfort at Ceigall, and persistent cost-led margin concerns at CDSL.
Akums Drugs: Buy; target price raised to Rs 850
ICICI Securities maintained its Buy call on Akums Drugs and Pharmaceuticals and raised the target price sharply to Rs 850 from Rs 680, implying around 22% upside from the report's cited market price of Rs 697.
Power Mech Projects: Buy; target price Rs 2,950
Power Mech Projects also retained a Buy recommendation, with ICICI Securities maintaining its target price at Rs 2,950. This translates into around 17% upside from the report's cited CMP of Rs 2,531
Ceigall India: Upgraded to Add; TP revised to Rs 350
ICICI Securities upgraded Ceigall India to Add from Hold, citing improved valuation comfort following the correction in the stock. The brokerage revised the target price to Rs 350 from Rs 360, indicating about 10% upside from the cited CMP of Rs 319.
CDSL: Reduce; target price raised to Rs 1,140
ICICI Securities remains cautious on Central Depository Services, maintaining its Reduce rating despite revising the target price higher to Rs 1,140 from Rs 1,090. The revised target still implies around 14% downside from the report's cited CMP of Rs 1,333.
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