Diwali 2023- Axis Bank, Bajaj Auto, Maruti, Cipla, Glenmark, SBI amongst top 6 picks by Deven Choksey
Axis Bank, Bajaj Auto, Maruti Suzuki India Ltd, Cipla Ltd, Glenmark Pharmaceuticals, SBI These High Conviction Stocks Idea are based on key criteria that include The company should have Sound and resilient business. It should have displayed consistent strong financials with high growth potential and high return on invested capital.
Industry: The company choses for investments should be Market leaders with Strong brand value, having high growth opportunities; and industry should have Strong entry barriers. The Management is another key- It should have Visionary Leadership, strong & effective management; and with High corporate access, including promoters and CXOs Deven Choksey Differentiators: include Analytics that predicts market movements coupled withHigh-quality actionable research’ Also Read- Diwali 2023-ICICI Bank, Maruti, UltraTech amongst top 10 picks by SBI Securities Axis Banks Ltd - Building strong operating pillars Buy Target Price of 1,160 indicating an upside expected up to 17.5%.
The Bank has seen strong momentum in the retail segment across all businesses since integration with CITI business in FY23. The CITI business is expected to be ROE accretive once the integration process ends.
It has reported a healthy improvement in the balance sheet mix, with loans and investments contributing 86.0% to the overall assets, an increase from 84.0% in FY22. The market share advances to 6.0% as of September 30, 2023, an expansion from 4.9% in FY22.
The integration has led to access to a large, affluent, and profitable consumer franchise, which aligns well with AXSB's premiumization strategy. AXSB will be open to cross-selling its products to the Citibank customer base, significantly increasing the Bank's revenues and
. Read more on livemint.com
