The Union Budget FY25 prioritized defence improvements and listed 346 items for indigenisation. ICICI Securities recommended investing in Solar Industries, Azad Engineering, Zen Technologies, Astra Microwave, and Dynamatic Technologies. The budget saw substantial increases in aircraft and aero engine allocations while maintaining stable funding for other defence areas.

Defence sector may be back in action, ICICI Securities shares 5 stock picks

The brokerage maintains Buy rating on the stock with a DCF-based revised target price of Rs 780 (earlier Rs 750).

Marico Q1 Results Review - Steady Progress On Key Parameters: ICICI Securities

YES Bank shares at Rs 25.45 apiece are down 22.43 per cent from February 9 high of Rs 32.81. ICICI Securities said the private lender’s current valuation seems to adequately capture the turnaround.

YES Bank, Trident, IRFC, IRCTC, PNB, BHEL, VIL: Retail fav stocks fall up to 27% from 52-week highs

Given the company’s market leadership with its energy-efficiency offerings, the brokerage assigns 50 times FY26E earnings to its green solutions business.

Thermax Q1 Results Review - A Strong Quarter Marred By One-Off: ICICI Securities

The brokerage maintains Add rating on the stock with a DCF-based revised target price of Rs 600.

Kalyan Jewellers Q1 Results Review - Trailblazing Growth: ICICI Securities

Gross and operating margins remain healthy with significant increase in ad-spends which is likely to continue with aggressive new product launches in FY25, adds the brokerage.

Emami Q1 Results Review - Favorable Seasonality Aids Growth: ICICI Securities

Inflation in key input prices across business segments is expected to limit margin expansion, says the brokerage.

ITC Q1 Results Review - Unchanged Taxation On Cigarettes To Sustain Formalisation: ICICI Securities

For the company’s India business, with CV set to remain flat and PV growing in single-digits, the brokerage believes, the key driver of Ebitda growth would be improving margins in the EV business.

Tata Motors Q1 Review - Strong Performance Under JLR, India CVs; India PV Margin Disappoints: ICICI Securities

BHEL shares: ICICI Securities said BHEL continued to report subdued set of results due to subpar execution. It expects a ramp up in execution from FY26 onwards.

‘Subpar execution’: Multibagger PSU stock BHEL falls 4% from day’s high; what analysts say

The domestic brokerage firm in its report has stated that major white goods and durables companies have raised the product prices by 2%-4% across the segments since the prices of major commodities increased in June-July period on a YoY basis. However, there is a minimal impact on volumes due to strong demand trends.

White goods to benefit from commodity price inflation, Havells a top pick: ICICI Securities

Coal India’s stock rose 3% to a 52-week high following a 4% increase in net profit for the quarter ended June 2024. Analysts from JM Financial, Motilal Oswal, and ICICI Securities have expressed positive outlooks, citing strong volume growth and efficient cost management as major factors boosting the companys performance.

Coal India shares rally 3% after target prices go up to Rs 600 on Q1 beat

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

ICICI Securities offers a range of financial services including brokerage, financial product distribution and investment banking and focuses on both retail and institutional clients