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ITC Ltd. – ITC currently trades at 18x FY25E earnings per share, a 4-5% dividend yield provides a huge margin of safety against its peers. Additionally, the recovery in the cigarette sector and the rise in food, hospitality and paperboard in the near term make ITC a better performer across the fmcg pack where valuations are high.
IDFC First Bank Ltd. – With a solid and granular deposit base, IDFC First Bank is focused on growing its loan portfolio, in which the retail portfolio is expected to drive the same. We believe the stock is about to be re-priced given the bank’s continued improvement in asset quality, its strategy of improving operating performance with expected operating leverage and superior yield ratios on exercises 23-25E.
Polycab India Ltd. – Polycab maintained a leadership position in the organized cables and wires segment with a market share of over 24%. Moreover, with superior financial strength, expansion of distribution network in Tier II and Tier III cities and strong brand recall, it is poised to gain market share from non-players. organized into the cable and fast moving electrical product segments.
Click on the attachment for the full list of Diwali stock picks from Axis Securities:
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