ICICI Bank, Tech Mahindra, Polycab India and more – Top Stock Picks for November: Axis Securities | Tech US News


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ICICI Bank Limited – The bank is outperforming its peers and firing on all cylinders. ICICI Bank has ticked most of the boxes on growth, margins, and asset quality. A strong provision buffer coupled with higher loan growth, improved operating profitability, and a strong deposit franchise will help the bank achieve return on average equity/average asset expansion over FY23-25E. On the valuation front, we believe the bank remains on a comfortable footing.

Tech Mahindra Limited – We believe Tech Mahindra has a superior service mix and multiple long-term contracts that are well spread across verticals, reducing its reliance on any single vertical. Additionally, we predict healthy traction in the communications and enterprise verticals that will accelerate the company’s revenue growth going forward.

Polycab India Limited – Polycab maintains a leadership position in the structured cables and wires segment with a market share of over 24%. With a strong distribution network and a strong brand recall, the company is poised to capture market share from unorganized players in both the wires and high-speed electrical equipment segments. We believe growth will be driven by demand recovery, new product launches, product premiumization and increased exports in the long run.

Click on the attachment for a complete list of Axis Securities’ top stock picks for November 2022:


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