Motilal Oswal - MOSL: Morning India (5/September/17)-1. AGIC: CEO Track Takeaways 2. AGIC: Management Says 3. Bulls Bears (India Valuations Handbook 4. Automobile (Scooterization wave to intensify)

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Motilal Oswal

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MOSL: Morning India (5/September/17)-1. AGIC: CEO Track Takeaways 2. AGIC: Management Says 3. Bulls & Bears (India Valuations Handbook 4. Automobile (Scooterization wave to intensify)

â€‹MOrning India (5/September/17): 1. AGIC: CEO Track Takeaways; 2. AGIC: Management Says; 3. Bulls & Bears (India Valuations Handbook â€” Nifty takes breather in August); 4. Automobile (Scooterization wave to intensify)

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Todayâ€™s top research idea

We hosted Ms Chanda Kochhar, MD and CEO of ICICI Bank, as part of â€˜CEO Trackâ€™ at our annual conference. Key takeaways:

-ICICIBC, along with its subsidiaries, is well positioned to capitalize on the expanding pie for financial services in India.

-Immediate targets on the asset side (4*4) are: a) monitoring existing portfolio, b) improving product mix, c) reducing the concentration and d) focusing on resolution.

-The bank is focusing on enhancing franchise (4*4) via: a) improving funding profile toward retail, b) moving toward digitalization, c) generating cost synergies and d) focusing on capital efficiency.

-We like ICICIBC for its strong retail business and healthy capitalization. ICICIBC continues to be our top pick, with an SOTP of INR366 (1.6x June 2019+value of other ventures).

Piping hot news

Demonetisation will cost more than slow growth

-The Union ministry of finance (MoF) has put out a note defending the Demonetisation Initiative of November 2016. It provided much information to show that it has indeed delivered the results they had expected

05/09/2017 30 EN

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MOSL: Morning India (5/September/17)-1. AGIC: CEO Track Takeaways 2. AGIC: Management Says 3. Bulls & Bears (India Valuations Handbook 4. Automobile (Scooterization wave to intensify)

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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