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ITC Ltd. – ITC is currently trading at 18 times FY25E earnings per share, 4-5% dividend yield provides a huge margin of safety compared to its peers. Moreover, the recovery in the cigarette business and uptick in agri, hotels, and paperboard in the near term makes ITC a better play in the entire fmcg pack where valuations are high.
IDFC First Bank Ltd. – With a strong and granular deposit base, IDFC First Bank is focused on growing its loan portfolio wherein the retail book is expected to drive the same. We believe the stock is poised for re-rating given the continuous improvement in the bank’s asset quality, its strategy to improve operating performance with expected operating leverage and superior return ratios over FY23-25E.
Polycab India Ltd. – Polycab has 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 into tier-II, and tier-III cities, and strong brand recall, it is poised to gain market share from unorganised players in both wires and fast moving electrical goods segments.
Click on the attachment for full list of Axis Securities’ Diwali stock picks:
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