Latest news with #ICICISecurities
Mint
16 hours ago
- Business
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Securities suggests HEG, Larsen & Toubro shares to buy on June 2
Stock market today: The Indian stock markets saw declines for the second week in a row, with both the Nifty 50 and Sensex dropping by nearly 0.4%, ending the week at 24,750 and 81,451, respectively, on May 31. Meanwhile, the Bank Nifty index showed better performance, rising by 0.63% to finish at 55,749, thanks to robust results in the banking sector. Experts note that domestic economic indicators are promising, such as an improved monsoon forecast, a stable inflation trend, and an encouraging Q4 GDP growth rate of 7.4%, which could mitigate risks. The market appears to be anticipating a 25 bps rate cut, which would enhance projections for sectors sensitive to interest rates. While the favourable macroeconomic conditions may uplift investor confidence, the stability of the wider market will rely on substantial earnings growth and diminishing trade disputes. On the technical front, Dharmesh Shah, Vice President at ICICI Securities, expects Nifty 50 to consolidate in the broader range of 25,100-24,500 amid positive bias. Shah has recommended two stocks to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Equity benchmark relatively underperformed its global peers as Nifty 50 dropped 0.5% for the week compared to Dow Jones which gained 1.5%. Meanwhile, broader market endured its outperformance by gaining 1% supported by traction in Capital Goods, PSU Bank and energy sectors. The weekly price action formed a small bear candle, indicating extended breather. Going ahead, we expect prolongation of consolidation in the broader range of 25,100-24,500 amid positive bias wherein stock specific action would prevail. The past two weeks healthy consolidation while sustaining above 20 days moving average depicts inherent strength. In addition to that, formation of higher peak and trough backed by improving market breadth makes us believe, index would eventually resolve above upper band of consolidation and head towards 25,500 in the month of June. Further, we expect volatility to subside gradually as we approached the fag end of earning season and focus will now shift towards upcoming RBI's Policy (to be released on next Friday). Consequently, rate sensitives like financials, auto, realty would be in focus. Key thing to highlight is that, the index has staged a strong 15% rally from April lows. Post that, Nifty 50 has been consolidating over past two weeks wherein it corrected 3%. The elongation of rallies followed by shallow retracement is a is key ingredient of a structural bull market. Hence, we believe ongoing consolidation would set the stage for next leg of up move towards 25,500 wherein strong support is placed at 24,200. On the broader market front, the ratio chart of Nifty 500 / Nifty 100 has staged a strong rebound after finding support from multi years range breakout area. The rising ratio line highlights relative outperformance of the broader market compared to large caps. Meanwhile sector rotation underpinned by improvement in market breadth augurs well for durability of ongoing optimism in the midcap and small cap space. Key monitorable which would validate our positive bias going ahead: a. GDP data b. RBI's commentary on rate cut c. Persistent FII's inflow d. Further weakness in US Dollar index and Brent crude oil prices e. Bilateral Trade Agreement between India and US Dharmesh Shah of ICICI Securities recommends buying HEG, and Larsen & Toubro shares to buy tomorrow. Buy Larsen & Toubro shares in the price range of ₹ 3,420-3,672. He has Larsen & Toubro share price target of ₹ 3,928, and suggests maintaining a stop loss of ₹ 3,264. Buy HEG shares in the price range of ₹ 493-522. He has HEG share price target of ₹ 578, and suggests maintaining a stop loss of ₹ 467. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 30/05/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
Economic Times
2 days ago
- Business
- Economic Times
I-Sec downgrades Aurobindo Pharma to Add, target price Rs 1,330
ICICI Securities has downgraded Aurobindo Pharma to Add (from Buy earlier) with a revised target price of Rs 1,330 (earlier Rs 1,445). The current market price of Aurobindo Pharma Ltd. is Rs 1147.95. Aurobindo Pharma, incorporated in 1986, is a Large Cap company with a market cap of Rs 66664.41 crore, operating in the Pharmaceuticals sector. ADVERTISEMENT Aurobindo Pharma's key products/revenue segments include Pharmaceuticals, Sale of services, Export Incentives and Scrap for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 8516.93 crore, up 4.68 % from last quarter Total Income of Rs 8135.81 crore and up 10.38 % from last year same quarter Total Income of Rs 7715.77 crore. The company has reported net profit after tax of Rs 935.02 crore in the latest quarter. The company's top management includes Mr.M Ramasubramanian Kumar, Mukherjee, Mahajan, P Vanvari, Mr.P Sarath Chandra Reddy, Makkapati, Mr.P V Ramprasad Reddy, Mr.M Madan Mohan Reddy, Mr.K Nithyananda Reddy, Pant Joshi. Company has Deloitte Haskins & Sells as its auditors. As on 31-03-2025, the company has a total of 58 Crore shares outstanding. Investment Rationale ADVERTISEMENT Aurobindo Pharma?s US sales growth (up 8.8% YoY to $470 million) in Q4FY25 was driven by gRevlimid; however, sales run-rate is likely to come down in FY26 as pricing competition intensifies, manufacturing at Pen-G plant has been temporarily halted due to fire in the coal yard near conveyor belt. However, production may resume soon post approval from Andhra Pradesh Pollution Control Board which the management expects in next couple of months. Europe business continues to grow at a faster pace and going ahead new launches may boost growth. Management expects traction in Europe to improve ahead led by new product launches and will launch biosimilars in Europe and UK in Q2FY26. Aurobindo has signed a definitive agreement with Merck Sharpe and Dohme (MSD Singapore) for contract manufacturing of innovative biologics, civil work on this plant is on and in FY27 it expects to commission this plant; revenue generation to start in FY28. ICICI Securities lowered its FY26/27E EBITDA by ~12%/8%, respectively, to factor in lower sales from Eugia. The stock currently trades at 17.1x FY26E and 14.3x FY27E earnings, and EV/EBITDA multiples of 9.1x FY26E and 7.6x FY27E. They have lowered rating on the stock to ADD (from Buy) with lower target price of Rs 1,330 (Rs 1,445 earlier), based on 16x FY27E EPS (18x FY26E EPS earlier). Key downside risks include regulatory hurdles, currency volatility and delay in US launches. Promoter/FII Holdings Promoters held 51.82 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.33 per cent, DIIs 26.23 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Economic Times
2 days ago
- Business
- Economic Times
ICICI Securities downgrades Gujarat Fluorochemicals to Hold, revises target price to Rs 3,790
Gujarat Fluorochemicals' key products/revenue segments include Fluorochemicals, Bulk Drugs & Chemicals, Export Incentives, Other Operating Revenue, Scrap, Carbon Credit for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 1251 crore, up 7.66% from last quarter Total Income of Rs 1162 crore and up 8.66% from last year same quarter Total Income of Rs 1151.32 crore. The company has reported net profit after tax of Rs 191.00 crore in the latest quarter. The company's top management includes Kumar Jain, Prakash Jain, Prakash Lohia, Swarup, Prashad Jain, Agnihotri, Kumar Muppirala, Kapoor, Kumar Jain, Bhargava. Company has Patankar & Associates as its auditors. As on 31-03-2025, the company has a total of 11 crore shares outstanding. Live Events Investment Rationale Gujarat Fluorochemicals' Q4FY25 print was impacted by lower sales of bulk chemicals with production disrupted for 20 days due to incident in Dahej. It expects fluoropolymers revenue to grow 25% in FY26 with higher volume in new fluoropolymers, and steady rise in PTFE volume. R-32 capacity commissioning has been expedited, and may now start in H2FY26, therefore, supporting fluorochemicals. GFL remains confident of approvals, and contracts in battery chemicals for LiPF6 salt, and binders immediately with potential billing to commence in H2FY26. ICICI Securities cut the EPS for FY26/27E by 3-9% and reduced target price to Rs 3,790 (from Rs 4,160), valuing the stock at FY28E P/E multiple of 30x (unchanged); downgrade to HOLD (from Buy). Promoter/FII Holdings Promoters held 62.58 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.63 per cent, DIIs 10.7 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has downgraded Gujarat Fluorochemicals to Hold from Buy earlier, with a revised target price of Rs 3,790 (earlier Rs 4,160). The current market price of Gujarat Fluorochemicals is Rs 3821.4. Gujarat Fluorochemicals, incorporated in 2018, is a Mid Cap company with a market cap of Rs 42064.86 crore, operating in the chemicals Fluorochemicals' key products/revenue segments include Fluorochemicals, Bulk Drugs & Chemicals, Export Incentives, Other Operating Revenue, Scrap, Carbon Credit for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 1251 crore, up 7.66% from last quarter Total Income of Rs 1162 crore and up 8.66% from last year same quarter Total Income of Rs 1151.32 crore. The company has reported net profit after tax of Rs 191.00 crore in the latest company's top management includes Kumar Jain, Prakash Jain, Prakash Lohia, Swarup, Prashad Jain, Agnihotri, Kumar Muppirala, Kapoor, Kumar Jain, Bhargava. Company has Patankar & Associates as its auditors. As on 31-03-2025, the company has a total of 11 crore shares Fluorochemicals' Q4FY25 print was impacted by lower sales of bulk chemicals with production disrupted for 20 days due to incident in Dahej. It expects fluoropolymers revenue to grow 25% in FY26 with higher volume in new fluoropolymers, and steady rise in PTFE volume. R-32 capacity commissioning has been expedited, and may now start in H2FY26, therefore, supporting fluorochemicals. GFL remains confident of approvals, and contracts in battery chemicals for LiPF6 salt, and binders immediately with potential billing to commence in H2FY26. ICICI Securities cut the EPS for FY26/27E by 3-9% and reduced target price to Rs 3,790 (from Rs 4,160), valuing the stock at FY28E P/E multiple of 30x (unchanged); downgrade to HOLD (from Buy).Promoters held 62.58 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.63 per cent, DIIs 10.7 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Time of India
2 days ago
- Business
- Time of India
ICICI Securities downgrades Gujarat Fluorochemicals to Hold, revises target price to Rs 3,790
ICICI Securities has downgraded Gujarat Fluorochemicals to Hold from Buy earlier, with a revised target price of Rs 3,790 (earlier Rs 4,160). The current market price of Gujarat Fluorochemicals is Rs 3821.4. Gujarat Fluorochemicals, incorporated in 2018, is a Mid Cap company with a market cap of Rs 42064.86 crore, operating in the chemicals sector. Gujarat Fluorochemicals' key products/revenue segments include Fluorochemicals, Bulk Drugs & Chemicals, Export Incentives, Other Operating Revenue, Scrap, Carbon Credit for the year ending 31-Mar-2024. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thon An Quynh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 1251 crore, up 7.66% from last quarter Total Income of Rs 1162 crore and up 8.66% from last year same quarter Total Income of Rs 1151.32 crore. The company has reported net profit after tax of Rs 191.00 crore in the latest quarter. The company's top management includes Kumar Jain, Prakash Jain, Prakash Lohia, Swarup, Prashad Jain, Agnihotri, Kumar Muppirala, Kapoor, Kumar Jain, Bhargava. Company has Patankar & Associates as its auditors. As on 31-03-2025, the company has a total of 11 crore shares outstanding. Live Events Investment Rationale Gujarat Fluorochemicals' Q4FY25 print was impacted by lower sales of bulk chemicals with production disrupted for 20 days due to incident in Dahej. It expects fluoropolymers revenue to grow 25% in FY26 with higher volume in new fluoropolymers, and steady rise in PTFE volume. R-32 capacity commissioning has been expedited, and may now start in H2FY26, therefore, supporting fluorochemicals. GFL remains confident of approvals, and contracts in battery chemicals for LiPF6 salt, and binders immediately with potential billing to commence in H2FY26. ICICI Securities cut the EPS for FY26/27E by 3-9% and reduced target price to Rs 3,790 (from Rs 4,160), valuing the stock at FY28E P/E multiple of 30x (unchanged); downgrade to HOLD (from Buy). Promoter/FII Holdings Promoters held 62.58 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.63 per cent, DIIs 10.7 per cent.
Time of India
3 days ago
- Business
- Time of India
Vodafone Idea shares in focus ahead of Q4 results, loss expected to widen YoY
Vodafone Idea shares are likely to be in focus on Friday as the telecom company is set to announce its financial results for the fourth quarter of FY25, wherein domestic brokerage firm ICICI Securities expects its loss to widen to Rs 7,626.10 crore in Q4FY25. ICICI Securities has released its estimates for the quarter, projecting that Vodafone Idea will report a widening of net loss to Rs 7,626.10 crore in Q4FY25, compared to a loss of Rs 7674.0 crore in the same quarter last year. On a sequential basis, the loss is expected to increase from Rs 6,609.3 crore reported in Q3FY25. The firm estimates the company's revenue for the quarter at Rs 10,982.7 crore, down 1.2% quarter-on-quarter but up 3.5% year-on-year. EBITDA is projected at Rs 4468.09 crore, reflecting a decline of 5.2% QoQ but a growth of 3.1% YoY. Additionally, the EBITDA margin is expected to shrink by 170 basis points to 40.7% compared to the previous quarter. Live Events The telco's net profit margin (NPM) is estimated to remain deep in the red at -69.4%, compared to -59.5% in Q3FY25 and -72.4% in Q4FY24. Meanwhile, earnings per share (EPS) is projected to remain negative at Rs (2.7), unchanged from the year-ago period and down from Rs (2.3) in the previous quarter. Also read: Samvardhana Motherson proposes 1:2 bonus issue, recommends final dividend of Rs 0.35 per share The domestic brokerage firm has maintained a "hold" rating on the stock with a target price of Rs 8, citing persistent financial challenges, although a slight improvement in revenues and EBITDA from the year-ago period provides some comfort. The shares of Vodafone Idea closed flat with a positive bias at Rs 7.15 on the BSE.
