Page 6 - Icici Securities
ICICI Securities Q1 PAT dips 1% to Rs 271 cr, revenue surges 18%
Brokerage house ICICI Securities on Friday reported a one per cent decline in profit after tax (PAT) at Rs 271 crore for three months ended June 2023. In comparison, the company reported a PAT of Rs 273.6 crore in the year-ago period, ICICI Securities said in a regulatory filing. The decline in the profit could be attributed to higher expenses, as the broking firm's total expenses shot up by 33 per cent to Rs 570 crore in the quarter under review. However, the company's total revenues rose by 18 per cent to Rs 934 crore in the first quarter under review, from Rs 795 crore in the April-June quarter of financial year 2022-23. During the quarter under review, the company added 2.1 lakh clients, taking its overall customer base to 93 lakh. Last month, ICICI Bank approved a proposal to delist ICICI Securities and become a wholly-owned subsidiary of the bank after delisting. ICICI Securities, promoted by ICICI Bank, is the country's leading retail-led equity franchise, distributor of .
 "ICICI Securities Q1 PAT dips 1% to Rs 271 cr, revenue surges 18%")
Stocks to Watch: BPCL, PowerGrid, ATGL, ICICI Bank, T D Power, CreditAccess
Stocks to Watch on June 30, 2023: MCX has extended the support services deal with its software vendor 63 Moons Technologies; BPCL's board approved raising up to Rs 18,000 crore via rights issue
 "Stocks to Watch: BPCL, PowerGrid, ATGL, ICICI Bank, T D Power, CreditAccess")
ICICI Securities to be 100% subsidiary of ICICI Bank upon delisting
Public shareholders of the broking firm to get 67 shares of ICICI Bank for each 100 shares of ICICI Securities
 "ICICI Securities to be 100% subsidiary of ICICI Bank upon delisting")
ICICI Securities to become 100% subsidiary of ICICI Bank after delisting
As a part of the acquisition, shareholders of ICICI Securities will get 67 equity shares of ICICI Bank for every 100 shares of the company
 "ICICI Securities to become 100% subsidiary of ICICI Bank after delisting")
Angel One, Emkay Global: Brokerage stocks may rally up to 15%, show charts
Trend of brokerage firms appear attractive on technical charts, progressive uptrend to continue.
 "Angel One, Emkay Global: Brokerage stocks may rally up to 15%, show charts")
ICICI Securities surges 10% on buyback plan, valuation hits Rs 20,000 cr
Board to meet on July 29 over proposal; Drone maker Ideaforge Tech's IPO subscribed 3x on heavy retail interest
 "ICICI Securities surges 10% on buyback plan, valuation hits Rs 20,000 cr")
ICICI Securities surges 15%; board to mull share delisting on June 29
The company plans to delist its equity shares pursuant to a Scheme of Arrangement with ICICI Bank.
Stocks to Watch: IndusInd Bank, Ipca Lab, Infosys, ICICI Securities, RVNL
Stocks to Watch on June 26, 2023: The Hinduja Group is in talks to invest Rs 10,000 crore to hike its stake in IndusInd Bank, as per media reports
 "Stocks to Watch: IndusInd Bank, Ipca Lab, Infosys, ICICI Securities, RVNL")
ICICI Securities surges 7% to hit 7-month high on strong growth prospects
Analysts anticipate the broking revenue to remain stable in FY24, while expect strong growth in the distribution business and in interest income, led by strong growth in the MTF book
Corporate sector begins to contribute to growth of GFCF: ICICI Securities
The corporate sector has begun contributing to the growth of gross fixed capital formation (GFCF) in FY23, said ICICI Securities Ltd in a report
 "Corporate sector begins to contribute to growth of GFCF: ICICI Securities")
Fintech firm Indifi raises Rs 290 cr in funding round by ICICI Venture
Company plans to expand its operations and expand small businesses' access to working capital finance
 "Fintech firm Indifi raises Rs 290 cr in funding round by ICICI Venture")
Sensex, Nifty snap 3-day losing streak, end marginally up; Infy, HUL slip
CLOSING BELL: The S&P BSE Sensex was up 65 points, while the Nifty 50 added six points. Tata Motors, NTPC, Asian Paints, SBI and Bharti Airtel were the prominent gainers.
 "Sensex, Nifty snap 3-day losing streak, end marginally up; Infy, HUL slip")
Indian equity markets to trade in range-bound manner: ICICI Securities
The equity markets, after being under pressure in the last four months from December till March, saw a sharp recovery in the first half of April
 "Indian equity markets to trade in range-bound manner: ICICI Securities")
Our financial dependence on broking is now far lower: ICICI Securities CEO
Retail investor behaviour so far has been mixed in terms of market activity. Indirect investment through mutual funds has improved significantly, said Vijay Chandok, MD & CEO, ICICI Securities
 "Our financial dependence on broking is now far lower: ICICI Securities CEO")
Russia's Gazprom turns off tap, GAIL's hunt for LNG may continue for a year
Its petrochem plant in UP running at 40% utilisation
 "Russia's Gazprom turns off tap, GAIL's hunt for LNG may continue for a year")
KFin Technologies IPO subscribed 0.70 times on Day 2, issue closes Wed
Financial services firm provides services and solutions to asset managers and corporate issuers
 "KFin Technologies IPO subscribed 0.70 times on Day 2, issue closes Wed")
Quick commerce finds it footing amid funding winter, now needs to scale
The sector has fared well both on the fund raising front and on operational performance
 "Quick commerce finds it footing amid funding winter, now needs to scale")
Volume growth, weak mix likely to impact Eicher Motors' margins
Muted domestic demand and margin pressure may weigh on the stock
 "Volume growth, weak mix likely to impact Eicher Motors' margins")
Consumer durable demand outlook likely to remain weak in Q3FY23
While input costs have eased, lower volumes could impact margins
 "Consumer durable demand outlook likely to remain weak in Q3FY23")
Key indicator suggests RBI may go for another 35 bps rate hike before pause
Swap rates decline post fall in US, India inflation
 "Key indicator suggests RBI may go for another 35 bps rate hike before pause")