Buy ICICI Securities; target of Rs 650: Motilal Oswal
Motilal Oswal is bullish on ICICI Securities recommended buy rating on the stock with a target price of Rs 650 in its research report dated April 22, 2021.
April 22, 2021 / 02:12 PM IST
Motilal Oswal's research report on ICICI Securities
4QFY21 was another robust quarter in an overall strong year for ISEC. PAT more than doubled YoY to INR3.3b (45% beat), driven by 54% growth in revenue, coupled with significantly lower C/I ratio. - In FY21, ISEC delivered 50%/97% revenue/PAT growth.
We increase our FY22E/FY23E EPS estimate by ~10% to factor in healthy brokerage revenue. Maintain Buy with a TP of INR650/share (18x FY23E EPS).
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