BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
ICICI Bank Ltd. - ICICI Bank has been outperforming its peers and has been ticking most boxes on growth, margins and asset quality. Higher loan growth, improving operating profits, and a strong provision buffer coupled with a strong deposit franchise will help the bank achieve return on average equity/return on average assets expansion over FY22-23E. On the valuation front, we believe the bank continues to be on a comfortable footing.
Hindalco Industries Ltd. - Hindalco's net debt/Ebitda is at 1.93 times, much below the target of 2.5 times. We expect deleveraging to continue, further strengthening the company's balance sheet. With continued deleveraging, lower earnings risk at Novelis, robust LME Aluminium outlook we believe Hindalco is well placed to deliver strong performance.
Varun Beverages Ltd. - Although near term margin pressure remains owing to volatile raw material, greenfield expansion in Bihar and penetration led gains would would aid Varun Beverages in growing volumes over CY22/23E.
These are among other stocks featured in the report.
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