External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

ICICI Lombard General Insurance Company / Equity Bottom-Up

ICICI Lombard General Insurance Company (ICICIGI IN)

<ul><li>We upgrade ICICI Lombard (ICICIGI) to BUY with a revised TP of INR1,982 (33.4x FY26E EPS) on the back of its new playbook in retail health business and likely easing in competitive intensity from industry-wide EoM compliance, in addition to a sustained dominance in its core businesses (motor and commercial lines).</li><li>We believe this potent combination is likely to reflect in incremental market share gains across preferred lines of business (retail health and motor), better risk selection, and improvement in FY25 COR to 101.7% (FY24:103%).</li><li>EoM norms to ease competitive intensity, upgrade to BUY</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We upgrade ICICI Lombard (ICICIGI) to BUY with a revised TP of INR1,982 (33.4x FY26E EPS) on the back of its new playbook in retail health business and likely easing in competitive intensity from industry-wide EoM compliance, in addition to a sustained dominance in its core businesses (motor and commercial lines).We believe this potent combination is likely to reflect in incremental market share gains across preferred lines of business (retail health and motor), better risk selection, and improvement in FY25 COR to 101.7% (FY24:103%).EoM norms to ease competitive intensity, upgrade to BUYContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ICICI Lombard General Insurance: Improving Competitive Advantage, Upgrade to BUY