7 months ago

JM Financial Recommends Buy for Four Indian Stocks

JM Financial Recommends Buy for Four Indian Stocks
4 ‘Buy’ recommendation by JM Financial with up to 34% upside potential · financialexpress.com

JM Financial, a brokerage firm, has recommended buying shares of four Indian companies: Larsen & Toubro, Just Dial, ICICI Lombard General Insurance, and ICICI Prudential Life Insurance.

They believe these stocks have good potential for growth in the long term, even though there have been some short-term problems.

For Larsen & Toubro, they think the stock is a good buy because it has fallen a bit in price, but the company is still expected to do well.

Just Dial's stock is also recommended because it has a lot of cash, but the company needs to be clearer about how it will use this money.

ICICI Lombard and ICICI Prudential Life are recommended because their core businesses are strong, even though they had some higher costs recently.

Overall, JM Financial thinks these stocks are good investments for the future.

Key facts

Larsen & Toubro Target Price
Rs 4,500
Just Dial Target Price
Rs 1,060
ICICI Lombard Target Price
Rs 2,333
ICICI Prudential Life Target Price
Rs 880
Kuwait Tender Cancellation Value
$8.7bn (approx. Rs 73,080 Crore)
ICICI Lombard Profit After Tax
Rs 660 Crore
ICICI Prudential Life VNB
Rs 620 Crore

Quotes

Jefferies

An international brokerage firm

“For December quarter, ICICI Prudential’s Value of New Business (VNB) of Rs 600 crore (up 19% YoY on lower base) was ahead of estimate as margins of 24% were tad above our estimate.”
financialexpress.com
“While GST was a drag, ICICI Prudential could offset this with better product mix, positive yield curve and cost controls.”
financialexpress.com

Sources

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