Morning India (28/July/17)-1. EcoScope 2. ITC 3. Maruti Suzuki 4. ONGC 5. ICICI Bank 6. HCL Tech. 7. Dr Reddy's Labs 8. L&T Finance Holdings 9. Exide 10. CESC (AR)
​MOrning India (28/July/17): 1. EcoScope; 2. ITC; 3. Maruti Suzuki; 4. ONGC; 5. ICICI Bank; 6. HCL Tech.; 7. Dr Reddy's Labs; 8. L&T Finance Holdings; 9. Exide; 10. CESC (AR)
Today’s top research idea
ICICI Bank: Stress pool stable QoQ; NIM and growth disappoint
- ​ICICI Bank's PPoP performance was weakened by muted NIM performance, but core fee income continues to be healthy on the back of strong retail fee income.
- While provisions soared with a lumpy slippage outside the watchlist, excluding that slippages continued to trend lower. Total net stressed book declined 2% QoQ and stood at 11.5% of loans.
- We cut PAT estimates by ~5% to account for NIM pressure from competitive yields and build in INR22b gains on stake sale in ICICI Lombard, and maintain Buy with a SOTP based TP of INR366.
Piping hot news
Monsoon in India: Rains boost water level at reservoirs even though South stays a concern
- ​With rainfall in excess of 22% of the benchmark long period average (LPA) in the last week (July 20-26), the average water table in these reservoirs has been more than the level a year ago as well as average of last 10 years during this time of the year.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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