ICICI Securities' assessments highlight resilient lending operations at Aye Finance, growth opportunities in CIE Automotive's India business and the potential benefits of Balkrishna Industries' partnership with global tyre manufacturer Pirelli. However, ICICI Securities also flagged risks arising from macroeconomic conditions, cost pressures and execution challenges.
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ICICI Securities Report
ICICI Securities has maintained its Buy ratings on Aye Finance, CIE Automotive India and Balkrishna Industries, while revising target prices following its latest assessment of earnings performance, business developments and growth prospects.
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The brokerage has cut its target price on Aye Finance to Rs 200 from Rs 285, indicating a potential upside of 50% from the reference market price of Rs 133.
For CIE Automotive India, it has reduced the target price to Rs 475 from Rs 485, implying 30% upside from Rs 365.
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Meanwhile, ICICI Securities has raised its target price on Balkrishna Industries to Rs 2,675 from Rs 2,600, suggesting 27% upside from Rs 2,110.
ICICI Securities' assessments highlight resilient lending operations at Aye Finance, growth opportunities in CIE Automotive's India business and the potential benefits of Balkrishna Industries' partnership with global tyre manufacturer Pirelli. However, ICICI Securities also flagged risks arising from macroeconomic conditions, cost pressures and execution challenges.
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