These High Conviction Stocks Idea are based on key criteria that include
The company should have Sound and resilient business. It should have displayed consistent strong financials with high growth potential and high return on invested capital.
Industry: The company choses for investments should be Market leaders with Strong brand value, having high growth opportunities; and industry should have Strong entry barriers.
The Management is another key- It should have Visionary Leadership, strong & effective management; and with High corporate access, including promoters and CXOs
Deven Choksey Differentiators: include Analytics that predicts market movements coupled withHigh-quality actionable research’
Also Read- Diwali 2023-ICICI Bank, Maruti, UltraTech amongst top 10 picks by SBI Securities
Axis Banks Ltd – Building strong operating pillars Buy Target Price of 1,160 indicating an upside expected up to 17.5%.
The Bank has seen strong momentum in the retail segment across all businesses since integration with CITI business in FY23. The CITI business is expected to be ROE accretive once the integration process ends. It has reported a healthy improvement in the balance sheet mix, with loans and investments contributing 86.0% to the overall assets, an increase from 84.0% in FY22. The market share advances to 6.0% as of September 30, 2023, an expansion from 4.9% in FY22. The integration has led to access to a large, affluent, and profitable consumer franchise, which aligns well with AXSB’s premiumization strategy. AXSB will be open to cross-selling its products to the Citibank customer base, significantly increasing the Bank’s revenues and sustaining a strong returns ratio in FY24E/FY25E.
Bajaj Auto Ltd- Its Domestic two-wheeler and three-wheeler businesses drive growth and profitability – Deven Choksey recommends ACCUMULATE with a Target Price of ₹5,830 and upside: 8.5%
Cipla Ltd -Strong growth in revenue and margins, Buy with a target Price of ₹1,405 and Upside: 16.6%
Glenmark Pharmaceuticals Ltd -Encouraging portfolio refocus and improved margin profile lead Chowksey to give a Buy target of ₹905 with a upside of 21.2%
Also read- Diwali 2023- ICICI Bank, Maruti, UltraTech, Polycab amongst top 10 picks by SBI Securities
Maruti Suzuki Ltd Margins strengthen, expected to remain strong going ahead Buy target Price: of ₹12,385 indicates Upside of 20.4%
State Bank of India Ltd is Focused on sustaining ROA in long term – Have a buy target of ₹750 indicatng upside of 29.5%. so read-
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Updated: 12 Nov 2023, 06:04 PM IST
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