Investment period for stock picks is six months from the date of the recommendations provided; and return calculated on six months highest price.
NDTV Profit'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 NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
DRChoksey Report
ICICI Bank - Potential Upside 27.3%
We value ICICI Bank Ltd.'s standalone business at Rs 1,576.0 per share, while we value its stake in its subsidiaries at Rs 200.0 per share, with an SOTP valuation target at Rs 1,776.0 per share, implying a potential upside of 27.3% potential upside.
We believe that the bank is well-positioned to maintain its leadership position, driven by its focus on all banking segments and balance sheet strength. We reiterate our “Buy” rating on the stock.
Infosys - Potential Upside 24.5%
We expect net revenue/ Ebit/ Adjusted PAT to grow at a CAGR of 5.3%/ 7.6%/ 6.2% over FY25-FY27E. We value Infosys Ltd. at 24.5x Jun'27 EPS (closer to its 10-year NTM P/E), implying a target price of Rs 1,830.
This implies a leftover upside of 24.5% from current levels. Accordingly, we have a Buy rating on the shares of Infosys since 24th Jul 2025.
ACC - Potential Upside 18.1%
We expect adjusted revenue/ adjusted Ebitda/ adjusted PAT CAGR of 7.7%/ 7.0%/ 36.7% respectively over FY25 to FY27E. We value ACC at 10.5x EV/Ebitda on Jun'27, implying a target price of Rs 2,128, as we roll forward our valuation to Q1 FY28E. We have a Buy rating on the shares of ACC since Aug 29, 2025.
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