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

ZF Commercial Vehicle Control Systems India Limited / Equity Bottom-Up

ZF Commercial Vehicle Control Systems India Limited (WIL IN)

ZF Commercial Vehicle Control Systems India Limited

<ul><li>Wabco India (WIL), now part of the ZF Group, is the market leader in the CV braking space and a technology-focused complete solutions provider</li><li>FY21 channel mix – OEM 41%, aftermarket 16%, exports 43%</li><li>Target Price and Valuation: Introducing FY24E numbers, we now value the company at Rs 9,530 i.e. 50x P/E on FY24E EPS (earlier target price Rs 8,800</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>

Wabco India (WIL), now part of the ZF Group, is the market leader in the CV braking space and a technology-focused complete solutions providerFY21 channel mix – OEM 41%, aftermarket 16%, exports 43%Target Price and Valuation: Introducing FY24E numbers, we now value the company at Rs 9,530 i.e. 50x P/E on FY24E EPS (earlier target price Rs 8,800Content 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.

Wabco India: Domestic Capex Cycle Beneficiary, CV Recovery Play