ICICI Securities Q1 Results Review - Progressing Well In Focus Segment: Axis Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Axis Securities Report.Key TakeawaysFocus on improving derivatives market shareICICI Securities Ltd. believes that key factors that will enable it to improve its market share rapidly in the derivative segment are:Number of customers,volumes andrevenue. The company has been closely monitoring its performance on these parameters and has seen healthy YoY growth. However, it has also identified hindrances which have slowed its pace of market share improvement in the derivative segment. These are: absence of intensive marketing efforts and performance of the app. The company is consistently working on fixing these issues. Thus, with concentrated efforts towards improving the product offering and proposition, the management expects ICICI Securities to witness a meaningful improvement in the derivatives market share in the coming quarters.Changing proposition in the Investment banking businessICICI Securities has been able to strengthen its leadership position in the investment banking business primarily led by-strengthening research capabilities,sharpening sectoral coverage (with a dominant presence in the banking, financial services and insurance and infra/Infrastructure investment trusts-real estate investment trusts),strengthening the tech stack anddeepening client relationship beyond IPOs given the monetisation capability. The management believes that this has helped it even out the ‘episodic’-nature of the business..Outlook We believe the company’s efforts to reduce dependence on the cyclical broking business and diversify revenue streams should lend some stability to overall revenue growth. ICICI Securities' continued investments towards technology and franchise-building will keep cost ratios inflated. However, this would ensure scalable growth over the long term..Click on the attachment to read the full report:.IndiaMart Q1 Review - Mixed Result; Near Term Margin Guidance Key To Watch Out: ICICI Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities Q1 Results Review - Progressing Well In Focus Segment: Axis Securities

Improvement in cash market volumes drove the recovery in the company’s revenues.

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