Motilal Oswal has given Buy recommendation for ICICI Securities recommended buy rating on the stock with a target price of Rs 650 in its research with a target price of Rs. 650 in its research report issued on Apr 22, 2021
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).