External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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

<ul><li>Shoppers Stop (SSL) is one of India’s leading departmental stores and has undergone various structural changes</li><li>Operates 83 departmental stores and 163 beauty format stores spread across 4.2 million sq ft and present in 47 cities</li><li>Reasonable valuations prompt us to remain positive on the stock and maintain BUY: We value SSL at Rs 480 i.e. 8.5x FY24E EV/EBITDA.</li></ul><div class="content-highlight"><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></div>

Shoppers Stop (SSL) is one of India’s leading departmental stores and has undergone various structural changesOperates 83 departmental stores and 163 beauty format stores spread across 4.2 million sq ft and present in 47 citiesReasonable valuations prompt us to remain positive on the stock and maintain BUY: We value SSL at Rs 480 i.e. 8.5x FY24E EV/EBITDA.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.

Shoppers Stop: Enhancing Share of Private Label, Beauty Segments