Diwali 2023- Axis Bank, Bajaj Auto, Maruti, Cipla, Glenmark, SBI amongst top 6 picks by Deven Choksey

This High Conviction Stock Idea is based on key criteria including

The company should have a sound and resilient business. It should demonstrate strong consistent financials with high growth potential and a high return on invested capital.

Industry: The company chooses for investments There should be market leaders with a strong brand value, with high growth opportunities; and the industry should have strong barriers to entry.

Another key is Management – There should be Visionary Leadership, strong and effective management; and with Senior corporate outreach, including promoters and CXO

Deven Choksey’s Differentiators: they include Analytics that predict market movements along with quality actionable research’

Also read- Diwali 2023-ICICI Bank, Maruti, UltraTech among top 10 picks by SBI Securities

Axis Banks Ltd – Building strong operating pillars Buy Target Price of 1,160 which represents upside of up to 17.5%.

The Bank has seen strong momentum in the retail sector across all businesses since the integration with the CITI business in FY23. It is expected that the CITI business will be accredited by ROE as soon as the integration process is completed. It reported a healthy improvement in balance sheet mix, with loans and investments contributing 86.0% to overall assets, up from 84.0% in FY22. The market share advanced to 6.0% as on September 30, 2023, up from 4.9% in FY22. The integration results in access to a large, affluent and profitable consumer franchise, which aligns well with AXSB’s premium strategy. AXSB will be able to cross-sell its products with Citibank’s customer base, which will significantly increase the Bank’s revenue and sustain a strong return ratio in FY24E/FY25E.

Bajaj Auto Ltd- Its domestic two wheeler and three wheeler businesses drive growth and profitability – Deven Choksey recommends CRUINN with a Target Price of 5,830 and upside: 8.5%

Cipla Ltd -Strong revenue and margin growth, Buy with a Price target 1,405 and Advantage: 16.6%

Glenmark Pharmaceuticals Ltd – Encouraging portfolio refocusing and improved margin profile leads Chowksey to Buy target 905 with upside of 21.2%

Also read- Diwali 2023- ICICI Bank, Maruti, UltraTech, Polycab among top 10 picks by SBI Securities

Maruti Suzuki Ltd Margins strengthen, expected to remain strong going forward Target Buy Price: of 12,385 represents a Gain of 20.4%

State Bank of India Ltd is Focused on sustaining ROA for the long term – Have a purchase target 750 upside of 29.5%. so read-

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Updated: 12 November 2023, 06:04 PM IST

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