Top brokerages, including Citi Research to Motilal Oswal Financial Services Ltd., shared stock calls on a variety of sections. While Citi maintained its rating on ICICI Bank, Motilal Oswal maintained a 'buy' rating on Titan Co.
What Citi Research said on ICICI bank: Buy or sell?
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Citi maintained 'buy' call on ICICI Bank with a target price of ₹1,322 apiece and said that it expects RoA/RoE to be intact in fourth quarter while it estimates mid-single-digit NIM contraction in Q4. The brokerage said that it expects 4% QoQ deposits growth translating to 17–18% YoY growth in ICICI bank and loan growth will be anchored to deposits growth with similar traction.
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What Motilal Oswal said on Titan: Buy or sell?
Motilal Oswal maintained a 'buy' rating with a target price of ₹4,300 apiece brd on a 65 times FY26 earnings per share on Titan and said that the reduction in gold premium is being compensated with other initiatives to protect operating margin. The brokerage also said that jewellery and other businesses still have strong long-term growth potential.
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What Citi Research said on India consumer, retail?
The brokerage firm said that demand growth led by the gold price and decline in volume on a year-on-year basis is being witnessed while competitive intensity has increased from national, organised and unorganised/local players. Gold has become a preferred product, given the correction in diamond prices, the brokerage added.
What Citi Research said on Kalyan Jewellers?
{{/usCountry}}The brokerage firm said that demand growth led by the gold price and decline in volume on a year-on-year basis is being witnessed while competitive intensity has increased from national, organised and unorganised/local players. Gold has become a preferred product, given the correction in diamond prices, the brokerage added.
What Citi Research said on Kalyan Jewellers?
{{/usCountry}}The brokerage set a target price of ₹480 apiece to Kalyan Jewellers at a 24% discount to Titan citing differences in business models that can affect growth rates, cash flows and return profiles.