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ICICI Securities Limited (ISEC) Report Analysis

Corporate Events

Neutral

ICICI Securities Limited, ICICI Securities Indi...

2022-11-14 10:15:00

ICICI Securities Limited, ICICI Securities India Financials Conference, Nov 16, 2022. Venue: Mumbai , India.

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-11-11 13:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-10-28 12:49:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-10-21 15:04:00

ICICI Securities Limited - Shareholder/Analyst Call

Negative

ICICI Securities Limited Announces Interim Divi...

2022-10-20 12:57:00

ICICI Securities Limited announced Payment of interim dividend of INR 9.75 (Rupees Nine and Seventy Five Paise only) per equity share of face ...

Neutral

ICICI Securities Limited, Q2 2023 Earnings Call...

2022-10-19 06:50:00

ICICI Securities Limited, Q2 2023 Earnings Call, Oct 20, 2022

Neutral

ICICI Securities Limited to Report Q2, 2023 Res...

2022-09-29 12:31:00

ICICI Securities Limited announced that they will report Q2, 2023 results on Oct 20, 2022

Neutral

ICICI Securities Limited, Board Meeting, Oct 20, 2022

2022-09-29 12:31:00

ICICI Securities Limited, Board Meeting, Oct 20, 2022, at 14:35 Indian Standard Time. Agenda: To consider and approve the unaudited financial ...

Positive

ICICI Securities Limited, 9.75 (INR), Cash Divi...

2022-09-29 00:00:00

ICICI Securities Limited, 9.75 (INR), Cash Dividend, Oct-31-2022

Negative

ICICI Securities Limited Appoints Rakesh Jha as...

2022-09-27 06:15:00

ICICI Securities Limited Board of Directors have approved the appointment of Mr. Rakesh Jha on September 26, 2022, as an Additional Director (...

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-09-19 13:33:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-09-19 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Negative

ICICI Securities Limited Announces Resignation ...

2022-09-18 07:59:00

ICICI Securities Limited announced that Mr. Anup Bagchi, Non-Executive Non-Independent Director has tendered his resignation from the Board of...

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-09-06 13:55:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-09-02 12:55:00

ICICI Securities Limited - Shareholder/Analyst Call

Negative

ICICI Securities Limited Approves Board Appointments

2022-08-27 13:10:00

ICICI Securities Limited announced that at its AGM held on August 26, 2022, the shareholders approved appointment of Dr. Gopichand Katragadda ...

Neutral

ICICI Securities Limited Presents at 10th Annua...

2022-08-23 08:55:00

ICICI Securities Limited Presents at 10th Annual Indian Wealth Management Forum 2022, Sep-07-2022 . Speakers: Anupam Guha, Head of Private Wea...

Neutral

Pacific Prospect Group Limited, 10th Annual Ind...

2022-08-23 04:10:00

Pacific Prospect Group Limited, 10th Annual Indian Wealth Management Forum 2022, Sep 07, 2022.

Neutral

ICICI Securities Limited, ICICI Securities' Ben...

2022-08-05 14:01:00

ICICI Securities Limited, ICICI Securities' Bengaluru Corporate Day, Aug 22, 2022. Venue: Bangalore, India.

Positive

ICICI Securities Limited (NSEI:ISEC) acquired V...

2022-08-03 00:00:00

ICICI Securities Limited (NSEI:ISEC) acquired Vartul Solutions Private Limited on August 3, 2022. ICICI Securities Limited (NSEI:ISEC) comple...

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-07-28 12:46:00

AGM

Neutral

ICICI Securities Limited, Annual General Meetin...

2022-07-28 12:46:00

ICICI Securities Limited, Annual General Meeting, Aug 26, 2022, at 16:30 Indian Standard Time. Agenda: To receive, consider and adopt the Stan...

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-07-27 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited, Board Meeting, Jul 21, 2022

2022-07-21 05:03:00

ICICI Securities Limited, Board Meeting, Jul 21, 2022, at 14:10 Indian Standard Time. Agenda: To consider the audited financial results of the...

Negative

ICICI Securities Limited Announces Resignation ...

2022-07-19 15:52:00

ICICI Securities Limited announced resignation of Mr. Pankaj Gadgil as Additional Director (Non-Executive Non-Independent Director). Mr. Gadgi...

Neutral

ICICI Securities Limited, Q1 2023 Earnings Call...

2022-07-19 09:01:00

ICICI Securities Limited, Q1 2023 Earnings Call, Jul 21, 2022

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-27 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Negative

ICICI Securities Limited Announces Resignation ...

2022-06-15 15:12:00

ICICI Securities Limited announced that Mr. Pramod Rao (DIN: 02218756), Non-Executive Non-Independent Director of the Company, vide letter dat...

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-15 12:50:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-13 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-10 11:59:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-07 11:29:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-02 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-05-25 12:38:00

Con-call with JM Financial Mutual Fund

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-05-05 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-05-04 13:39:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-04-22 14:07:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Special Call

2022-04-21 14:43:00

ICICI Securities Limited - Special Call

Negative

ICICI Securities Limited Proposes Final Dividend

2022-04-20 13:30:00

ICICI Securities Limited announced that at the Board of Directors meeting held on April 20, 2022, recommendation of final dividend on INR 12.7...

Positive

ICICI Securities Limited, 12.75 (INR), Cash Div...

2022-04-20 00:00:00

ICICI Securities Limited, 12.75 (INR), Cash Dividend, Aug-18-2022

Neutral

ICICI Securities Limited, Board Meeting, Apr 20, 2022

2022-04-18 13:16:00

ICICI Securities Limited, Board Meeting, Apr 20, 2022, at 14:35 Indian Standard Time. Agenda: To discuss audited results and the final dividend.

Neutral

ICICI Securities Limited, Q4 2022 Earnings Call...

2022-04-13 10:22:00

ICICI Securities Limited, Q4 2022 Earnings Call, Apr 20, 2022

Positive

ICICI Securities Limited (NSEI:ISEC) completed ...

2022-03-31 00:00:00

ICICI Securities Limited (NSEI:ISEC) agreed to acquire an unknown minority stake in AsknBid Innovation Factory India Private Limited for INR 5...

Neutral

ICICI Securities Limited - Special Call

2022-02-11 12:02:00

ICICI Securities Limited - Special Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-02-08 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-02-04 11:59:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2021-12-16 11:41:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2021-12-15 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited, ICICI Securities India Financials Conference, Nov 16, 2022

2022-11-14 10:15:00

ICICI Securities Limited, ICICI Securities India Financials Conference, Nov 16, 2022. Venue: Mumbai , India.

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-11-11 13:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-10-28 12:49:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-10-21 15:04:00

ICICI Securities Limited - Shareholder/Analyst Call

Negative

ICICI Securities Limited Announces Interim Dividend, Payable on or Before November 19, 2022

2022-10-20 12:57:00

ICICI Securities Limited announced Payment of interim dividend of INR 9.75 (Rupees Nine and Seventy Five Paise only) per equity share of face value of INR 5 each to the shareholders of the Company whose names shall appear in the Company's Register of Members as at the close of business hours on the record date i.e. November 1, 2022 as well as to those beneficial holders as registered in the records of Depositories as at the close of business hours on the record date. The interim dividend will be paid to the Shareholders on or before November 19, 2022.

Neutral

ICICI Securities Limited, Q2 2023 Earnings Call, Oct 20, 2022

2022-10-19 06:50:00

ICICI Securities Limited, Q2 2023 Earnings Call, Oct 20, 2022

Neutral

ICICI Securities Limited to Report Q2, 2023 Results on Oct 20, 2022

2022-09-29 12:31:00

ICICI Securities Limited announced that they will report Q2, 2023 results on Oct 20, 2022

Neutral

ICICI Securities Limited, Board Meeting, Oct 20, 2022

2022-09-29 12:31:00

ICICI Securities Limited, Board Meeting, Oct 20, 2022, at 14:35 Indian Standard Time. Agenda: To consider and approve the unaudited financial results of the Company for the quarter and half year ended September 30, 2022 and to consider declaration of interim dividend.

Positive

ICICI Securities Limited, 9.75 (INR), Cash Dividend, Oct-31-2022

2022-09-29 00:00:00

ICICI Securities Limited, 9.75 (INR), Cash Dividend, Oct-31-2022

Negative

ICICI Securities Limited Appoints Rakesh Jha as Additional Director

2022-09-27 06:15:00

ICICI Securities Limited Board of Directors have approved the appointment of Mr. Rakesh Jha on September 26, 2022, as an Additional Director (Non-Executive Non-Independent Director) on the Board of Directors of the Company with effect from September 26, 2022 subject to regulatory approvals. Mr. Rakesh Jha is not related to any of the Directors of the Company. Further, the company affirm that Mr. Rakesh Jha has not been debarred from holding the office of a Director by virtue of any SEBI order or any other such authority. Mr. Rakesh Jha is an Executive Director on the Board of ICICI Bank Limited since September 2, 2022. He heads the Retail Banking business of the Bank. Rakesh is responsible for the Retail Banking, Rural & Agriculture and Small & Medium Enterprise businesses of the Bank. Rakesh also serves on the Board of ICICI Lombard General Insurance Company Limited and ICICI Venture Funds Management Company Limited. Rakesh has been with ICICI Group since the year 1996 and has worked in various areas including financial reporting, planning, strategy, asset-liability management and investor relations. Rakesh is knowledgeable and has practical experience in the areas of accounting, banking, economics and finance. Prior to his current role, Rakesh was the Group Chief Financial Officer of the Bank. Rakesh has a management degree from the Indian Institute of Management, Lucknow and an engineering degree from the Indian Institute of Technology, Delhi.

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-09-19 13:33:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-09-19 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Negative

ICICI Securities Limited Announces Resignation of Anup Bagchi as Non-Executive Non-Independent Director

2022-09-18 07:59:00

ICICI Securities Limited announced that Mr. Anup Bagchi, Non-Executive Non-Independent Director has tendered his resignation from the Board of Directors of the Company with effect from September 17, 2022.

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-09-06 13:55:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-09-02 12:55:00

ICICI Securities Limited - Shareholder/Analyst Call

Negative

ICICI Securities Limited Approves Board Appointments

2022-08-27 13:10:00

ICICI Securities Limited announced that at its AGM held on August 26, 2022, the shareholders approved appointment of Dr. Gopichand Katragadda as an independent director of the company; appointment of Mr. Prasanna Balachander as a non-executive non independent director of the company.

Neutral

ICICI Securities Limited Presents at 10th Annual Indian Wealth Management Forum 2022, Sep-07-2022

2022-08-23 08:55:00

ICICI Securities Limited Presents at 10th Annual Indian Wealth Management Forum 2022, Sep-07-2022 . Speakers: Anupam Guha, Head of Private Wealth Management.

Neutral

Pacific Prospect Group Limited, 10th Annual Indian Wealth Management Forum 2022, Sep 07, 2022

2022-08-23 04:10:00

Pacific Prospect Group Limited, 10th Annual Indian Wealth Management Forum 2022, Sep 07, 2022.

Neutral

ICICI Securities Limited, ICICI Securities' Bengaluru Corporate Day, Aug 22, 2022

2022-08-05 14:01:00

ICICI Securities Limited, ICICI Securities' Bengaluru Corporate Day, Aug 22, 2022. Venue: Bangalore, India.

Positive

ICICI Securities Limited (NSEI:ISEC) acquired Vartul Solutions Private Limited.

2022-08-03 00:00:00

ICICI Securities Limited (NSEI:ISEC) acquired Vartul Solutions Private Limited on August 3, 2022. ICICI Securities Limited (NSEI:ISEC) completed the acquisition of Vartul Solutions Private Limited on August 3, 2022.

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-07-28 12:46:00

AGM

Neutral

ICICI Securities Limited, Annual General Meeting, Aug 26, 2022

2022-07-28 12:46:00

ICICI Securities Limited, Annual General Meeting, Aug 26, 2022, at 16:30 Indian Standard Time. Agenda: To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended March 31, 2022 including the Audited Balance Sheet as at March 31, 2022, the Statement of Profit and Loss, Statement of Changes in Equity, the Cash Flow Statement of the Company for the year ended on that date and notes related thereto together with the Reports of the Board of Directors and the Auditors thereon; to confirm the payment of interim dividend and declare final dividend on equity shares for the financial year ended March 31, 2022; to consider Appointment of Mr. Ajay Saraf, who retires by rotation and being eligible, offers himself for re-appointment; to consider Re-appointment of B S R & Co. LLP, Chartered Accountants, as the Statutory Auditors of the Company.

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-07-27 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited, Board Meeting, Jul 21, 2022

2022-07-21 05:03:00

ICICI Securities Limited, Board Meeting, Jul 21, 2022, at 14:10 Indian Standard Time. Agenda: To consider the audited financial results of the Company for the quarter ended June 30, 2022; to consider the Appointment of Mr. Prasanna Balachander as an Additional Director (Non-Executive Non-Independent Director) on the Board of Directors of the Company with effect from July 21, 2022, subject to regulatory approvals; and to consider other matter also.

Negative

ICICI Securities Limited Announces Resignation of Mr. Pankaj Gadgil as Additional Director (Non-Executive Non-Independent Director)

2022-07-19 15:52:00

ICICI Securities Limited announced resignation of Mr. Pankaj Gadgil as Additional Director (Non-Executive Non-Independent Director). Mr. Gadgil was representing ICICI Bank Limited.

Neutral

ICICI Securities Limited, Q1 2023 Earnings Call, Jul 21, 2022

2022-07-19 09:01:00

ICICI Securities Limited, Q1 2023 Earnings Call, Jul 21, 2022

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-27 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Negative

ICICI Securities Limited Announces Resignation of Pramod Rao as Non-Executive Non-Independent Director

2022-06-15 15:12:00

ICICI Securities Limited announced that Mr. Pramod Rao (DIN: 02218756), Non-Executive Non-Independent Director of the Company, vide letter dated June 15, 2022, has tendered his resignation from the Board of Directors of the Company with effect from June 30, 2022. Mr. Rao was representing company's Promoter, ICICI Bank Limited. His letter states that his resignation from the Board of Directors of the Company is pursuant to his resignation as an employee from lClCl Bank Limited and that there are no other material reasons for the resignation.

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-15 12:50:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-13 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-10 11:59:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-07 11:29:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-06-02 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-05-25 12:38:00

Con-call with JM Financial Mutual Fund

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-05-05 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-05-04 13:39:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-04-22 14:07:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Special Call

2022-04-21 14:43:00

ICICI Securities Limited - Special Call

Negative

ICICI Securities Limited Proposes Final Dividend

2022-04-20 13:30:00

ICICI Securities Limited announced that at the Board of Directors meeting held on April 20, 2022, recommendation of final dividend on INR 12.75 per equity share of face value of INR 5 each to the Shareholders of the Company which shall be subject to their approval at the upcoming Annual General Meeting. The final dividend will be paid to the Shareholders within 30 days from the declaration at the upcoming Annual General Meeting of the Company.

Positive

ICICI Securities Limited, 12.75 (INR), Cash Dividend, Aug-18-2022

2022-04-20 00:00:00

ICICI Securities Limited, 12.75 (INR), Cash Dividend, Aug-18-2022

Neutral

ICICI Securities Limited, Board Meeting, Apr 20, 2022

2022-04-18 13:16:00

ICICI Securities Limited, Board Meeting, Apr 20, 2022, at 14:35 Indian Standard Time. Agenda: To discuss audited results and the final dividend.

Neutral

ICICI Securities Limited, Q4 2022 Earnings Call, Apr 20, 2022

2022-04-13 10:22:00

ICICI Securities Limited, Q4 2022 Earnings Call, Apr 20, 2022

Positive

ICICI Securities Limited (NSEI:ISEC) completed the acquisition of an unknown minority stake in AsknBid Innovation Factory India Private Limited.

2022-03-31 00:00:00

ICICI Securities Limited (NSEI:ISEC) agreed to acquire an unknown minority stake in AsknBid Innovation Factory India Private Limited for INR 55.6 million on October 15, 2021. The total cash consideration will be paid for 3,055 common shares and 26,068 compulsorily convertible preference shares of AsknBid Innovation. ICICI Securities will eventually hold 16.12% in the entity post conversion of CCPSs. The transaction is expected to close by following necessary procedural formalities on or before November 30, 2021. ICICI Securities Limited (NSEI:ISEC) completed the acquisition of an unknown minority stake in AsknBid Innovation Factory India Private Limited effective March 31, 2022.

Neutral

ICICI Securities Limited - Special Call

2022-02-11 12:02:00

ICICI Securities Limited - Special Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-02-08 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2022-02-04 11:59:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2021-12-16 11:41:00

ICICI Securities Limited - Shareholder/Analyst Call

Neutral

ICICI Securities Limited - Shareholder/Analyst Call

2021-12-15 00:00:00

ICICI Securities Limited - Shareholder/Analyst Call

Fundamental Summary

ICICI published its Q2 report on 2022-07-21 with positive results, but no significant factors particularly remarkable relative to its peers. This typically translates into the stock performing on par with market performance for the upcoming quarter. We gave ICICI a 76 rating and a HOLD recommendation.

ICICI reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported revenue was INR 8,656.3 million compared to INR 8,565.6 million a year ago. Net income was INR 3,004.1 million compared to INR 3,512.4 million a year ago. Basic earnings per share from continuing operations was INR 9.3 compared to INR 10.89 a year ago. Diluted earnings per share from continuing operations was INR 9.28 compared to INR 10.84 a year ago.For the six months, revenue was INR 16,603.9 million compared to INR 16,042.6 million a year ago. Net income was INR 5,740 million compared to INR 6,619.6 million a year ago. Basic earnings per share from continuing operations was INR 17.78 compared to INR 20.53 a year ago. Diluted earnings per share from continuing operations was INR 17.74 compared to INR 20.46 a year ago.

Business Description

ICICI provides institutional and retail broking, merchant banking, financial products distribution, private wealth management, and issuer and advisory services. The company operates through three segments: Treasury, Broking & Distribution, and Issuer Services & Advisory. It operates ICICIdirect.com, an online broking platform to invest in equity, derivatives, currency futures, and margin trading funding; and distributes financial products and services, such as mutual funds, fixed deposits, loans, tax services, pension products, rental discounting, asset financing, overdraft, and life and general insurance products. The company also provides private wealth management services, such as investment solutions, protection, mortgages and loans, tax advisory, estate planning, and real estate services, as well as alternative investment, raising equity capital, debt syndication, and monetizing assets services. In addition, it offers equity capital market products and services, including initial public offerings, qualified institutional placements, rights issue, preferential issues, and block and bulk deals; corporate access, investor meets, and equity research services; and corporate finance services comprising debt advisory, mergers and acquisitions, advisory, private equity, and structured products. It serves corporates, financial institutions, high net-worth individuals, and retail investors in India and internationally. The company was formerly known as ICICI Securities and Finance Company Limited and changed its name to ICICI in April 2003. The company was incorporated in 1995 and is headquartered in Mumbai, India. ICICI operates as a subsidiary of ICICI Bank Limited.

Sector Overview

ICICI is included in the Capital Markets according to GICS (global industry classification standard). The Capital Markets industry is part of the Financials sector. It includes companies that engage in Diversified Capital Markets, Investment Banking & Brokerage, Asset Management & Custody Banks. ICICI's industry and sector affiliation are expected to positively boost their relative likelihood to overperform the market looking forward, as they should benefit significantly from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 134.1B -1.8% 43
Liabilities 107.0B -4.6% 93
Price to Book 5.1 -38.0% 88
Cash & Equivalents 54.3B 602.5% 95
Equity 27.1B 11.4% 49
Parameter Value Change Score
Total Revenues 31.6B -0.4% 50
Return on Equity 55.5 -14.6% 56
Asset Turnover 0.3 -8.6% 46
* All values are TTM

The below chart reflects ICICI's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While ICICI's peer average final assessment score stands on 72, ICICI's score is 76.

  •  ISEC
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
HDFC Asset Management Company Limited 466.5B 79 66 71
Hold
77
77 0 1
CRISIL Limited 213.7B 76 82 72
Buy
81
81 1 1
Nippon Life India Asset Management Limited 169.0B 77 68 76
Hold
77
77 2 1
IIFL Wealth Management Limited 162.6B 59 89 50
Hold
69
69 3 1
Central Depository Services (India) Limited 129.4B 79 81 55
Buy
83
83 4 1
Aditya Birla Sun Life AMC Limited 125.0B 86 60 73
Buy
79
79 5 1
Motilal Oswal Financial Services Limited 98.0B 86 75 81
Strong Buy
89
89 6 1
Multi Commodity Exchange of India Limited 79.7B 70 48 76
Hold
62
62 7 1
BSE Limited 78.2B 79 71 83
Buy
83
83 8 1
Edelweiss Financial Services Limited 60.0B 81 65 86
Hold
76
76 9 1
Prudent Corporate Advisory Services Limited 36.8B 89 69 52
Buy
79
79 10 1
IIFL Securities Limited 21.1B 84 70 74
Buy
83
83 11 1
CARE Ratings Limited 16.3B 71 67 76
Hold
71
71 12 1
Angel One Limited 133.3B 88 69 76
Buy
84
84 13 1
Indian Energy Exchange Limited 132.4B 94 77 80
Strong Buy
99
99 14 1
IDFC Limited 131.1B 74 48 68
Hold
63
63 15 1
Tata Investment Corporation Limited 118.8B 90 61 86
Buy
84
84 16 1
UTI Asset Management Company Limited 99.2B 67 60 71
Hold
67
67 17 1
JM Financial Limited 71.1B 77 69 78
Buy
79
79 18 1
JSW Holdings Limited 47.4B 87 64 61
Buy
79
79 19 1
Bengal & Assam Company Limited 42.6B 81 69 80
Buy
80
80 20 1
ICRA Limited 42.4B 73 51 66
Hold
64
64 21 1
Authum Investment & Infrastructure Limited 40.9B 57 72 66
Hold
63
63 22 1
Share India Securities Limited 38.9B 82 76 66
Buy
81
81 23 1
Dhani Services Limited 29.2B 65 62 74
Hold
64
64 24 1
Choice International Limited 26.6B 66 74 66
Hold
70
70 25 1

Macro Environment

Neutral
69

Typically, the stock market in India will react to recent economic events, as well as be influenced by the sentiment in other major economies around the world, such as the United States, European Union, and China. Our assessment is that these two events may influence global market sentiment. On the negative side we have the tensions between taiwan and china, and on the positive side we have the end of COVID-19 pandemic.

Positive end of COVID-19 pandemic

The World Health Organization issued six policy briefs outlining essential steps governments could take to stop the pandemic. The briefings, which are based on evidence and experience from the previous 32 months, provide guidance on how to save lives, protect health systems, and minimize social and economic disruption.

Negative tensions between taiwan and china

The tensions between Taiwan and China have spiked following Nancy Pelosi's visit to Taipei. China staged war games near Taiwan to express its anger at what it saw as stepped-up U.S. support for the island Beijing views as sovereign Chinese territory. Because Taiwan produces the majority of the world's semiconductors, which are used in every electronic device today, a war between China and Taiwan might be catastrophic for the global economy.

Besides the events we mentioned, there are also specific events related to the Diversified Financials industry of which ICICI Securities Limited is a part. As a result, we believe that the rising interest rate is a positive event that will continue to support the industry in the future, whereas the rising inflation may cloud the sector's shares.

Positive rising interest rate

From a historical point of view, the finance sector functions well when interest rates are rising, mainly due to the increase in loan repayments from lenders. Also, insurers often reinvest policyholder premiums into bond instruments, allowing them to profit when Treasury yields increase.

Negative rising inflation

The sudden increase in inflation is generally regarded as the most painful since it takes companies several quarters to pass on higher input costs to consumers. Historically, companies traded in the Diversified Financials industry have been hit by high inflation times due to increased operating expenses and decreased revenues.

In considering the current macro environment and the risks that might affect ICICI Securities Limited stock, we came to the conclusion that recent events aren't likely to affect the company's performance in the short term, and thus rated ICICI Securities Limited macro environment with the score of 69.

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. ICICI's stock is now priced above its 5-day and 50-day, but below its 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is strengthening. Historically, this is a positive setup in both the short and medium-term. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), ICICI's stock doesn't strongly signal being overbought or oversold. Overall, these technical indicators signal positive upward momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 73.

Bullish 73
Close Price 527.45
52W Low 413.55
52W High 823.45
5D MA 524.31
50D MA 524.63
200D MA 529.13
MACD 0.53
RSI 59.39
STOCH 17.12

Balance Sheet Analysis

ICICI appears likely to maintain its strong balance sheet metrics and momentum going forward. ICICI did a great job related to cash and cash equivalents this period, which stood at 54.3B, representing a 602.5% change from the previous filing. This impressive growth, specifically in contrast to their industry peers' performance, should support an upswing in the company's stock price. Consequently, their cash and cash equivalents movement received a grade of 95. Also, In terms of liabilities, ICICI published good numbers. Their reported liabilities were 107.0B, representing a -4.6% change from the previous report. These numbers show that management has successfully encouraged growth while managing liabilities, especially relative to their peers. These results statistically lead to positive movement in stock prices, so we rated its liabilities movement component 93. However, one concerning metric, Assets, stood out. ICICI's management did not succeed in significantly improving the value of the assets on their balance sheet, which now sits at 134.1B and represents a -1.8% change from the previous report. ICICI's unremarkable asset growth results, specifically compared to their industry peers' performance, should present negative pressure on ICICI's stock price. Its asset component, therefore, received a grade of 43. Therefore, their balance sheet earned a grade of 90.

Parameter Value Change Score
Assets 134.1B -1.8% 43
Liabilities 107.0B -4.6% 93
Price to Book 5.1 -38.0% 88
Cash & Equivalents 54.3B 602.5% 95
Equity 27.1B 11.4% 49
* All values are TTM

The below chart describes ICICI's performance as reflected on its balance sheet with respect to its peers. While ICICI received a balance sheet score of 90, the average of its peers stands on 71.

  •  ISEC
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
HDFC Asset Management Company Limited 466.5B 75.0 53.0 51.0 74.0 83.0 79 0 1
CRISIL Limited 213.7B 65.0 55.0 49.0 71.0 86.0 76 1 1
Nippon Life India Asset Management Limited 169.0B 74.0 56.0 47.0 86.0 79.0 77 2 1
IIFL Wealth Management Limited 162.6B 45.0 88.0 63.0 41.0 68.0 59 3 1
Central Depository Services (India) Limited 129.4B 78.0 52.0 73.0 83.0 78.0 79 4 1
Aditya Birla Sun Life AMC Limited 125.0B 43.0 51.0 94.0 91.0 91.0 86 5 1
Motilal Oswal Financial Services Limited 98.0B 85.0 53.0 48.0 80.0 88.0 86 6 1
Multi Commodity Exchange of India Limited 79.7B 85.0 75.0 73.0 41.0 61.0 70 7 1
BSE Limited 78.2B 87.0 56.0 90.0 76.0 70.0 79 8 1
Edelweiss Financial Services Limited 60.0B 49.0 59.0 73.0 59.0 79.0 81 9 1
Prudent Corporate Advisory Services Limited 36.8B 86.0 52.0 82.0 75.0 88.0 89 10 1
IIFL Securities Limited 21.1B 91.0 41.0 48.0 89.0 83.0 84 11 1
CARE Ratings Limited 16.3B 44.0 58.0 50.0 63.0 84.0 71 12 1
Angel One Limited 133.3B 93.0 48.0 39.0 69.0 96.0 88 13 1
Indian Energy Exchange Limited 132.4B 95.0 40.0 88.0 81.0 89.0 94 14 1
IDFC Limited 131.1B 82.0 62.0 64.0 65.0 69.0 74 15 1
Tata Investment Corporation Limited 118.8B 93.0 44.0 66.0 79.0 88.0 90 16 1
UTI Asset Management Company Limited 99.2B 39.0 86.0 78.0 50.0 73.0 67 17 1
JM Financial Limited 71.1B 76.0 58.0 52.0 79.0 79.0 77 18 1
JSW Holdings Limited 47.4B 95.0 44.0 65.0 48.0 90.0 87 19 1
Bengal & Assam Company Limited 42.6B 55.0 56.0 68.0 53.0 90.0 81 20 1
ICRA Limited 42.4B 62.0 69.0 81.0 67.0 68.0 73 21 1
Authum Investment & Infrastructure Limited 40.9B 57.0 78.0 64.0 61.0 57.0 57 22 1
Share India Securities Limited 38.9B 52.0 46.0 83.0 89.0 90.0 82 23 1
Dhani Services Limited 29.2B 67.0 65.0 76.0 66.0 60.0 65 24 1
Choice International Limited 26.6B 58.0 74.0 71.0 68.0 65.0 66 25 1

Income Statement Analysis

ICICI's income statement factors had several troubling metrics this period. ICICI management did an underwhelming job managing revenue efficiency this past period. ICICI's revenue efficiency is 31.6B according to the metrics in the current filing, which represents a -0.4% change from the previous report. This metric might have a 3.1 percent impact on companies in the same industry and with the same market capitalization. Their revenue efficiency, specifically in contrast to their industry peers', isn't encouraging. Consequently, their revenue efficiency received a grade of 50. However, one encouraging metric, Return Factors, stood out. ICICI's reported return on equity (ROE) ratio was 55.5, representing a change of -14.6%. These numbers show that management has successfully encouraged growth while managing ROE and ROA metrics, especially relative to their peers. The company's return factors (ROA & ROE) components, therefore, received a grade of 56. Because of these weaknesses, their income statement received an overall score of 59.

Parameter Value Change Score
Total Revenues 31.6B -0.4% 50
Return on Equity 55.5 -14.6% 56
* All values are TTM

The below chart describes ICICI's performance as reflected on its income statement with respect to its peers. While ICICI received a income statement score of 59 , the average of its peers stands on 72.

  •  ISEC
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
HDFC Asset Management Company Limited 466.5B 57.0 75.0 57.0 66 0 1
CRISIL Limited 213.7B 58.0 86.0 77.0 82 1 1
Nippon Life India Asset Management Limited 169.0B 59.0 75.0 59.0 68 2 1
IIFL Wealth Management Limited 162.6B 68.0 87.0 83.0 89 3 1
Central Depository Services (India) Limited 129.4B 47.0 86.0 79.0 81 4 1
Aditya Birla Sun Life AMC Limited 125.0B 81.0 52.0 57.0 60 5 1
Motilal Oswal Financial Services Limited 98.0B 43.0 68.0 93.0 75 6 1
Multi Commodity Exchange of India Limited 79.7B 45.0 65.0 50.0 48 7 1
BSE Limited 78.2B 59.0 69.0 78.0 71 8 1
Edelweiss Financial Services Limited 60.0B 83.0 70.0 62.0 65 9 1
Prudent Corporate Advisory Services Limited 36.8B 48.0 68.0 70.0 69 10 1
IIFL Securities Limited 21.1B 41.0 67.0 81.0 70 11 1
CARE Ratings Limited 16.3B 61.0 71.0 62.0 67 12 1
Angel One Limited 133.3B 46.0 73.0 70.0 69 13 1
Indian Energy Exchange Limited 132.4B 50.0 87.0 66.0 77 14 1
IDFC Limited 131.1B 49.0 68.0 47.0 48 15 1
Tata Investment Corporation Limited 118.8B 41.0 69.0 58.0 61 16 1
UTI Asset Management Company Limited 99.2B 81.0 50.0 58.0 60 17 1
JM Financial Limited 71.1B 48.0 68.0 77.0 69 18 1
JSW Holdings Limited 47.4B 47.0 75.0 53.0 64 19 1
Bengal & Assam Company Limited 42.6B 69.0 61.0 78.0 69 20 1
ICRA Limited 42.4B 87.0 57.0 50.0 51 21 1
Authum Investment & Infrastructure Limited 40.9B 81.0 77.0 66.0 72 22 1
Share India Securities Limited 38.9B 45.0 68.0 83.0 76 23 1
Dhani Services Limited 29.2B 58.0 61.0 63.0 62 24 1
Choice International Limited 26.6B 73.0 68.0 70.0 74 25 1

Cash Flow Analysis

ICICI's recently published cash flow conveyed disappointing growth, particularly concerning Asset Turnover metric. Asset turnover metrics during this period were surprisingly weak. Their reported asset turnover metrics of 0.3, which represents a -8.6% change from the previous report. Companies in the same sector and market capitalization will usually be affected by up to 4.5 percent by this parameter. Their lackluster asset turnover metrics, specifically in contrast to leading industry peers' performance, could present significant headwinds. Therefore, their asset turnover movement earned a score of 46. That said, one metric, Capex, stood out as strongly positive. ICICI's management did a great job this period managing its capital expenditure (CapEx). In terms of the raw numbers, CapEx was reported as nan, which represents a nan% change from the last period. The company appears to be headed in the right direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. Consequently, their CapEx movement received a grade of 48. Therefore, their cash flow earned a grade of 49.

Parameter Value Change Score
Asset Turnover 0.3 -8.6% 46
* All values are TTM

The below chart describes ICICI's performance as reflected on its cash flow with respect to its peers. While ICICI received a cash flow score of 49, the average of its peers stands on 61.

  •  ISEC
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
HDFC Asset Management Company Limited 466.5B 74.0 61.0 81.0 49.0 71 0 1
CRISIL Limited 213.7B 61.0 78.0 92.0 55.0 72 1 1
Nippon Life India Asset Management Limited 169.0B 78.0 59.0 89.0 50.0 76 2 1
IIFL Wealth Management Limited 162.6B 64.0 67.0 43.0 47.0 50 3 1
Central Depository Services (India) Limited 129.4B 72.0 50.0 43.0 45.0 55 4 1
Aditya Birla Sun Life AMC Limited 125.0B 73.0 83.0 53.0 89.0 73 5 1
Motilal Oswal Financial Services Limited 98.0B 68.0 63.0 81.0 93.0 81 6 1
Multi Commodity Exchange of India Limited 79.7B 88.0 47.0 72.0 46.0 76 7 1
BSE Limited 78.2B 77.0 54.0 81.0 89.0 83 8 1
Edelweiss Financial Services Limited 60.0B 81.0 53.0 71.0 87.0 86 9 1
Prudent Corporate Advisory Services Limited 36.8B 49.0 85.0 58.0 60.0 52 10 1
IIFL Securities Limited 21.1B 82.0 38.0 92.0 52.0 74 11 1
CARE Ratings Limited 16.3B 68.0 66.0 82.0 87.0 76 12 1
Angel One Limited 133.3B 62.0 74.0 72.0 88.0 76 13 1
Indian Energy Exchange Limited 132.4B 75.0 46.0 93.0 88.0 80 14 1
IDFC Limited 131.1B 59.0 76.0 82.0 43.0 68 15 1
Tata Investment Corporation Limited 118.8B 78.0 58.0 84.0 88.0 86 16 1
UTI Asset Management Company Limited 99.2B 87.0 52.0 49.0 80.0 71 17 1
JM Financial Limited 71.1B 69.0 68.0 69.0 88.0 78 18 1
JSW Holdings Limited 47.4B 72.0 62.0 59.0 46.0 61 19 1
Bengal & Assam Company Limited 42.6B 61.0 77.0 59.0 85.0 80 20 1
ICRA Limited 42.4B 65.0 71.0 64.0 49.0 66 21 1
Authum Investment & Infrastructure Limited 40.9B 63.0 71.0 69.0 65.0 66 22 1
Share India Securities Limited 38.9B 61.0 91.0 71.0 59.0 66 23 1
Dhani Services Limited 29.2B 65.0 72.0 72.0 70.0 74 24 1
Choice International Limited 26.6B 69.0 67.0 71.0 64.0 66 25 1

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