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ICICI Securities Limited (ISEC) is an integrated, technology-based company offering a wide range of services, including retail and institutional brokerage, financial product distribution, private wealth management and advisory services.
ISEC manages total assets of ??4.2 trillion customers for different products. Currently, it is the 4th largest broker in terms of active NSE clients and has a market share of 8.4%. Recommend as its top stock pick for this week, Axis Securities said ISEC aims to reduce its reliance on brokerage business by bringing its share below 50% of earnings over the medium term.
The company’s transformational journey from a “physical†to a “digital†financial services provider has laid the groundwork for a scalable business model to move forward, he added.
“This redesigned business model will allow ISEC to gain market share and maintain its formidable position in the extremely competitive landscape. We continue to appreciate ISEC for its superior ROE profile, improved brand recall and innovative product offering offered to all customer segments, â€said Axis.
The brokerage firm has a PURCHASE recommendation on the ICICI Securities share with a target price of ??832 / part.
“ISEC aims to maintain its dynamic of constant growth on a sustainable basis and seeks to transform itself from a ‘one-stop-shop’ entity into a digitally integrated financial market, and thus achieve a market share of more than 10% of new clients. acquisition, â€said Axis Securities.
With digital channels, open architecture and a favorable shift in demographics towards the younger population will help ISEC to maintain its momentum of adding customers. Its customer-centric initiatives such as “Prime”, “NEO”, etc., which have started to pay off, improve customer activation and thus support revenue, adds the note.
The opinions and recommendations expressed above are those of individual analysts or brokerage firms, not Mint.
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