ICICI Securities

ICICI Securities Ltd. ICICI Securities Limited is an India-based company. The Company offers a range of financial services including brokerage, financial product distribution and investment banking and focuses on both retail and institutional clients. The Company's segments include: Broking and commission is consists of its equity, currency and derivative brokerage services, the distribution of third-party products, research, and fees from financial planning/education; Advisory services, which consists of equity capital markets services and financial advisory services that cater to corporate clients, the government and financial sponsors; Investment and trading, which consists of treasury and proprietary trading activities.
  • TickerISEC
  • ISININE763G01038
  • ExchangeNational Stock Exchange of India
  • SectorFinancial Services
  • CountryIndia
Alpesh Mehta
  • Alpesh Mehta
ISEC ICICI Securitie... (Financial Services)

MOSL: ICICI SECURITIES (Buy)-Strong performance across revenue streams

ICICI SECURITIES: Strong performance across revenue streams (ISEC IN, Mkt Cap USD3.3b, CMP INR760, TP INR915, 20% Upside, Buy)   1QFY22 was another robust quarter for ISEC, following an overall strong FY21. PAT was up 58% YoY to INR3.04b (33% beat), driven by 36% growth in revenue (18% beat). C/I ratio inched up ~430bp sequentially to 45%, led by a 42% rise in employee costs. In our view, variable expenses were front loaded during 1QFY22. Employee cost-to-total income stood ~20% v/s ~23% in FY21 and 29-32% over FY18-20. Strong momentum in the capital market, coupled with a healthy deal p...

Alpesh Mehta
  • Alpesh Mehta
ISEC ICICI Securitie... (Financial Services)

MOSL: ICICI SECURITIES (Buy)-Strong performance across revenue streams

ICICI SECURITIES: Strong performance across revenue streams (ISEC IN, Mkt Cap USD3.3b, CMP INR760, TP INR915, 20% Upside, Buy)   1QFY22 was another robust quarter for ISEC, following an overall strong FY21. PAT was up 58% YoY to INR3.04b (33% beat), driven by 36% growth in revenue (18% beat). C/I ratio inched up ~430bp sequentially to 45%, led by a 42% rise in employee costs. In our view, variable expenses were front loaded during 1QFY22. Employee cost-to-total income stood ~20% v/s ~23% in FY21 and 29-32% over FY18-20. Strong momentum in the capital market, coupled with a healthy deal p...

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