ICICI Bank is covered by 51 analysts on the Street and enjoys 98% Buy ratings

  • IANS
  • Stock Market News
ICICI Bank is covered by 51 analysts on the Street and enjoys 98% Buy ratings
Credit: © Reuters.

New Delhi, Aug 11 (IANS) Among the Nifty constituents, Maruti Suzuki (NS: MRTI ) and Bajaj Auto (NS: BAJA ) are the most widely covered stocks on the Street with 54 analysts covering the stocks while Grasim Industries (NS: GRAS ) and Bajaj Finserv (NS: BJFS ) are the least covered stocks with 10 analysts covering these stocks, as per a report by Motilal Oswal (NS: MOFS ) Financial Services.

ICICI Bank (NS: ICBK ) is covered by 51 analysts on the Street and it enjoys 98 per cent Buy ratings, followed by L&T (NS: LART ) (98 per cent), ITC (97 per cent), SBI (NS: SBI ) (96 per cent) and HDFC (NS: HDFC ) (96 per cent).

Conversely, JSW Steel (NS: JSTL ) (24 per cent), Wipro (NS: WIPR ) (33 per cent), Shree Cement (NS: SHCM ) (38 per cent), TCS (NS: TCS ) (47 per cent), and Asian Paints (NS: ASPN ) (48 per cent) have the lowest percentage of Buy ratings, the report said.

Analyst sentiment, which is measured by the proportion of Buy/Hold/Sell ratings, has improved over the past year with the percentage of Buy ratings increasing to 75 from 74 a year ago. Further, the percentages of Hold have remained stable.

While Sell ratings declined to 9 per cent from 10 per cent, a year ago. Sentiments on Autos, Cement, and Healthcare have been positive with their coverage improving 8 per cent, 6 per cent and 5 per cent YoY, respectively. NBFCs (due to a drop in coverage of HDFC), Insurance, and Retail have taken a hit, with their coverage slumping 16 per cent, 8 per cent and 6 per cent YoY, respectively.

Some of the most popular non-Nifty stocks with the maximum coverage are: TVS Motors (covered by 48 analysts; 60 per cent Buy), Ashok Leyland (NS: ASOK ) (47 analysts; 83 per cent Buy), ACC (NS: ACC ) (46 analysts; 52 per cent Buy), Ambuja Cements (NS: ABUJ ) (46 analysts; 39 per cent Buy), and Havells (46 analysts; 54 per cent Buy).

Based on the consensus target prices for the Nifty-50 companies, there is a potential upside of 13 per cent (2,192 points) for Nifty-50 to 19,717.

Stocks with the highest target upsides are UPL (NS: UPLL ) (+36 per cent), ONGC (NS: ONGC ) (+32 per cent), HDFC Life Insurance (NS: HDFL ) (+28 per cent), Axis Bank (NS: AXBK ) (+25 per cent), and Bharti Airtel (NS: BRTI ) (+25 per cent). Stocks with the most target downsides are JSW Steel (-18 per cent), Asian Paints (-4 per cent), Eicher Motors (NS: EICH ) (-3 per cent), Coal India (NS: COAL ) (-2 per cent), and Wipro (-1 per cent). The top-10 stocks will likely contribute 72 per cent to the Nifty's target upside, the report said.



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