ICICI Securities (CMP: Rs 449; Market Cap: Rs 14,458 crore) has truly prospered during the pandemic, amid all gloom and doom. ISec’s net profit more than doubled year-on-year (YoY) in Q4 FY21, aided by strong growth across all business segments – broking, distribution, wealth management and investment banking -- and solid cost control. Overall, ISec’s FY21 earnings reaffirmed that it has been quiet successful during these unprecedented times as alluded to in our note last year. (image) Among many positives ,...
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