Axis Securities expects Nifty’s revenue to grow at an impressive CAGR of 15% over FY23-26. It added that the finance department remained the largest contributor to revenue in FY24/25. Against this backdrop, the top stocks in the large-cap stock field recommended by securities companies in April are as follows.
ET stations and agencies
2/9
ICICI Bank | Target price: Rs 1,250
Rationale: The bank consistently outperforms its peers and is firing on all cylinders. Axis Securities has (1) a strong retail debt franchise, (2) solid growth prospects, (3) stable asset quality with healthy provision coverage, (4) capital adequacy, and (5) ) Achieve a solid rate of return. ICICI Bank remains the most preferred bank among banks, the company said.
agency
3/9
Indian Coal | Target Price: Rs 510
Rationale: Axis Securities values the stock at a one-year forward EV/EBITDA multiple of 5.0x on a 2026 adjusted basis. EBITDA.
Four/9
Nestle India | Target price: Rs 2,880
Rationale: Axis Securities is committed to 1) efforts to penetrate rural areas and capture market share through the RURBAN strategy, 2) continued focus on innovation (125 products launched in the past 7 years), 3) core categories ( 4) Future entry into new categories (Purina Pet Care and Gerber’s for infant nutrition); 5) Introduction of D2C platform for evaluation consumption people’s attention. Nestlé has all the right tools in place for long-term growth, the company said.
ETMarkets.com
Five/9
State Bank of India | Target price: Rs 860
Rationale: Among PSU banks, SBI remains the best bet in the gradual recovery of the Indian economy due to its healthy PCR, solid capital structure, strong debt franchise and improved asset quality outlook. Axis Securities believes that despite margin pressure, SBI remains well-positioned to achieve ROA/ROE of 1%/15-17% in FY24-25, supported by stable credit costs and stable NIM. I believe that
Reuters
6/9
Varun Beverages | Target price: Rs 1,550
Rationale: Axis Securities maintains its focus on 1) successful operations and market share growth, 2) management’s continued focus on effectively executing market development in acquired under-penetrated areas, and 3) , we believe VBL expects to continue its strong growth momentum. Distribution expansion will reach 3.5 million stores in 2023 from the current 3 million stores. 4) Focus on expanding the high-margin Sting Energy Drink to all stores. 5) We will grow steadily in the international region.
IANS
7/9
Bank of Baroda | Target price: Rs 300
Rationale: BOB currently trades at 1x ABV on September 25, and is undervalued given its consistent growth and improving asset quality, Axis Securities said.
ETMarkets.com
8/9
Bharti Airtel | Target price: Rs 1,400
Rationale: The company’s superior margins, impressive subscriber growth and rising 4G conversions sustain a ‘buy’ rating on the stock, the brokerage said.
ETMarkets.com
9/9
TVS Motor Company | Target price: Rs 2,375
Rationale: Axis Securities believes that TVS is introducing a range of EV products ahead of other 2W OEMs. Being well-positioned among listed companies, the company’s revenue/EBITDA/PAT is expected to grow at a CAGR of up to 17%/21%/24% from FY24 to FY26. We like his TVSL because of its engineering and R&D capabilities, strong domestic retail network, and increased sales volume with premium products in developed countries (Norton Business will be developed in the next few years) is.
