7 months ago
JM Financial Recommends Buy for Four Indian Stocks
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.
JM Financial recommends 'Buy' for Larsen & Toubro, Just Dial, ICICI Lombard, and ICICI Prudential Life with up to 34% upside potential.
Larsen & Toubro's target price is Rs 4,500, with a 34% upside, despite Kuwait's potential tender cancellation affecting order inflows.
Just Dial's target price is Rs 1,060, with an 11.5% upside, but its stock is held back by unclear cash distribution policies.
ICICI Lombard's target price is Rs 2,333, with a 19.5% upside, driven by strong retail health insurance growth.
ICICI Prudential Life's target price is Rs 880, with a 17% upside, due to strong Value of New Business and expected growth in the fourth quarter.
- Who
- JM Financial
- What
- Issued 'Buy' recommendations for Larsen & Toubro, Just Dial, ICICI Lombard, and ICICI Prudential Life
- Where
- India
- When
- Recent quarterly reports
- Why
- Long-term growth prospects and attractive valuations
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





