{"id":9860,"date":"2022-06-14T16:49:44","date_gmt":"2022-06-14T11:19:44","guid":{"rendered":"https:\/\/blogs.univest.in\/?p=9860"},"modified":"2022-10-13T14:42:57","modified_gmt":"2022-10-13T09:12:57","slug":"recent-brokerage-picks-havells-bank-of-baroda","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/","title":{"rendered":"Recent Brokerage Picks- Havells &#038; Bank of Baroda"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9860\" class=\"elementor elementor-9860\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2090147 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2090147\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a7bb726\" data-id=\"a7bb726\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0b8c872 elementor-widget elementor-widget-text-editor\" data-id=\"0b8c872\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In a dynamic market scenario, many stocks find themselves on the radar of brokerages, whose analysts do a detailed analysis on past performance as well as gauge the future potential. We track stocks that have been covered by brokerages over the last few weeks and what are the key highlights of each report and the reasons for choosing these stocks. This week we bring you highlights from two stocks covered by brokerage houses viz, Havells India and Bank of Baroda.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#Havells_India\" title=\"Havells India\">Havells India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#Brokers_Call\" title=\"Broker\u2019s Call \">Broker\u2019s Call <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#ICICI_Directs_View_on_Havells_India\" title=\"ICICI Direct\u2019s View on Havells India\">ICICI Direct\u2019s View on Havells India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#HDFC_Securities_view_on_Havells_India\" title=\"HDFC Securities\u2019 view on Havells India\">HDFC Securities\u2019 view on Havells India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#BOB_Capitals_view_on_Havells_India\" title=\"BOB Capital\u2019s view on Havells India\">BOB Capital\u2019s view on Havells India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#Bank_of_Baroda\" title=\"Bank of Baroda \">Bank of Baroda <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#Brokers_Call-2\" title=\"Broker\u2019s Call \">Broker\u2019s Call <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#Edelweiss_views_on_BOB\" title=\"Edelweiss\u2019 views on BOB\">Edelweiss\u2019 views on BOB<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#LKP_Securities_view_on_BOB\" title=\"LKP Securities\u2019 view on BOB\">LKP Securities\u2019 view on BOB<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#Good_Credit_Growth\" title=\"Good Credit Growth- \">Good Credit Growth- <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#The_GNPA_Gross_Non-performing_Asset_ratio_remains_stable\" title=\"The GNPA (Gross Non-performing Asset) ratio remains stable: \">The GNPA (Gross Non-performing Asset) ratio remains stable: <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#ICICI_Directs_View_on_BOB\" title=\"ICICI Direct\u2019s View on BOB\">ICICI Direct\u2019s View on BOB<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/recent-brokerage-picks-havells-bank-of-baroda\/#Con_Call_highlights\" title=\"Con Call highlights-\">Con Call highlights-<\/a><\/li><\/ul><\/nav><\/div>\n<h5><span class=\"ez-toc-section\" id=\"Havells_India\"><\/span><strong>Havells India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>Havells India Limited is leading electrical wires, equipment manufacturer and a Fast-Moving Electrical Goods (FMEG) company with a strong global presence. Havells has an enviable market share in a wide range of products, including Industrial and \u00a0\u00a0\u00a0Domestic Circuit Protection Devices, Cables &amp; Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, and Luminaires for Domestic, Commercial, and Industrial Use.<\/p>\n<p>With &#8216;Havells Galaxy,&#8217; the firm pioneered the notion of an exclusive brand showroom in the electrical sector. Today, over 600 Havells Galaxies around the country assist home and business clients in selecting from a comprehensive range of goods for various uses.<\/p>\n<p>\u00a0<\/p>\n<h5><span class=\"ez-toc-section\" id=\"Brokers_Call\"><\/span><strong><u>Broker\u2019s Call <\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>\u00a0<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"150\">\n<p><strong>Broker House<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p><strong>ICICI Direct<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p><strong>HDFC Securities<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p><strong>BOB Caps<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>BUY (INR)<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>1250<\/p>\n<\/td>\n<td width=\"150\">\n<p>1249<\/p>\n<\/td>\n<td width=\"150\">\n<p>1120<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>Target (INR)<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>1375<\/p>\n<\/td>\n<td width=\"150\">\n<p>1500<\/p>\n<\/td>\n<td width=\"150\">\n<p>1500<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>Upside <\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>10%<\/p>\n<\/td>\n<td width=\"150\">\n<p>20%<\/p>\n<\/td>\n<td width=\"150\">\n<p>33%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>Time Period<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>12 Months<\/p>\n<\/td>\n<td width=\"150\">\n<p>12 Months<\/p>\n<\/td>\n<td width=\"150\">\n<p>12 Months<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h5><span class=\"ez-toc-section\" id=\"ICICI_Directs_View_on_Havells_India\"><\/span><strong>ICICI Direct\u2019s View on Havells India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li><strong>Q4FY22 Result- <\/strong>There has been a strong performance of the company on the revenue side but high raw material prices, on the other hand, brought the overall EBITDA margin down.<\/li>\n<li>EBITDA margin fell 340 basis points year over year to 11.8 %, owing mostly to decreased gross margin. Due to rising raw material prices and a delay in price hikes, gross margin fell by 812 basis points (300 basis points) YoY (300 basis points QoQ).<\/li>\n<\/ul>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-9869 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/zz.png\" alt=\"\" width=\"726\" height=\"376\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zz.png 726w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zz-300x155.png 300w\" sizes=\"(max-width: 726px) 100vw, 726px\" \/><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li><strong>Lloyd Brand-<\/strong> Lloyd&#8217;s inventory is at a regular level. The corporation wants to grow its market share in the RAC area even further. With price hikes, improved product mix, and positive operational leverage, management anticipates Lloyd&#8217;s margin to be at company level in the medium to long term.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-9873 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/zzz.png\" alt=\"\" width=\"906\" height=\"487\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zzz.png 906w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zzz-300x161.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zzz-768x413.png 768w\" sizes=\"(max-width: 906px) 100vw, 906px\" \/><\/p>\n<ul>\n<li><strong>Capex<\/strong>&#8211; The company plans to incur Rs 700 Crore of Capital Expenditure for FY23 of which Rs 350 crore will be only for Lloyd division. Sri City&#8217;s near-air conditioning production capacity is projected to be operational by the end of FY23.<\/li>\n<\/ul>\n<p>For FY22-24E, management anticipates a sales CAGR (Compounded Annual Growth Rate) of 13-14 percent. Long-term economic factors such as the real estate industry&#8217;s resurgence, increased government capex, and growing disposable income are all still in place.<\/p>\n<p>\u00a0<\/p>\n<h5><span class=\"ez-toc-section\" id=\"HDFC_Securities_view_on_Havells_India\"><\/span><strong>HDFC Securities\u2019<\/strong> <strong>view<\/strong> <strong>on Havells India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li>Strong demand for fans fueled ECD&#8217;s expansion. Although Lloyd main sales were somewhat higher than the industry, the industry as a whole has fared strongly. RAC contributes 80-85 percent of Lloyd revenue.<\/li>\n<li>Growth momentum is solid across categories, with consumer, real estate, and government and private Capex all showing signs of improvement. In FY22, the company&#8217;s volume increased by 11-12 percent.<\/li>\n<li>Switchgear growth was impacted by COVID-led disruption on housing construction activities in Jan and Feb. Cables growth was across B2B and B2C, with a healthy mix of value and volume.<\/li>\n<\/ul>\n<h5><span class=\"ez-toc-section\" id=\"BOB_Capitals_view_on_Havells_India\"><\/span><strong>BOB Capital\u2019s view<\/strong> <strong>on Havells India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li>The annual report for FY22 from HAVELL focuses on measures targeted at expanding distribution coverage (especially in rural regions) as well as R&amp;D. In the previous 21 months, new product revenue accounted for 17% of total revenue. Given the solid underlying demand, management is hopeful about margin recovery. With net cash of Rs 30 billion, the financial sheet is healthy.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-9877 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/zzzz.png\" alt=\"\" width=\"630\" height=\"443\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zzzz.png 630w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zzzz-300x211.png 300w\" sizes=\"(max-width: 630px) 100vw, 630px\" \/><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li><strong>Rural Reach- <\/strong>HAVELL&#8217;s Rural Vistaar initiative (which began four years ago) has grown to include 3k rural villages and 40k retail locations, making it the FMEG company with the most rural reach. In addition, the business plans to establish a significant number of &#8216;Utsav&#8217; shops, which correlate to &#8216;Havells Galaxies&#8217; (brand stores) in the urban market, as part of this program.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-9878 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/zzzzz.png\" alt=\"\" width=\"918\" height=\"420\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zzzzz.png 918w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zzzzz-300x137.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/zzzzz-768x351.png 768w\" sizes=\"(max-width: 918px) 100vw, 918px\" \/><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Bank_of_Baroda\"><\/span><strong>Bank of Baroda <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>The Bank of Baroda is an Indian public sector bank with total assets of Rs. 11742 crore. The company&#8217;s headquarters are in Vadodara (baroda). On July 20, 2008, Bank Of Baroda was established. In India, it has 5198 branches and 8030 ATMs. Savings accounts, fixed deposits, recurring deposits, loans, personal loans, PPF accounts, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, and a variety of other schemes are available.<\/p>\n<p>\u00a0<\/p>\n<h5><span class=\"ez-toc-section\" id=\"Brokers_Call-2\"><\/span><strong><u>Broker\u2019s Call <\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>\u00a0<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"150\">\n<p><strong>Broker House<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p><strong>Edelweiss<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p><strong>LKP securities<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p><strong>ICICI Direct<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>Date<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>June 10<\/p>\n<\/td>\n<td width=\"150\">\n<p>May 17<\/p>\n<\/td>\n<td width=\"150\">\n<p>May 16<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>BUY (INR)<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>105<\/p>\n<\/td>\n<td width=\"150\">\n<p>100<\/p>\n<\/td>\n<td width=\"150\">\n<p>95<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>Target (INR)<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>120<\/p>\n<\/td>\n<td width=\"150\">\n<p>128<\/p>\n<\/td>\n<td width=\"150\">\n<p>115<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>Upside <\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>14%<\/p>\n<\/td>\n<td width=\"150\">\n<p>28%<\/p>\n<\/td>\n<td width=\"150\">\n<p>21%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"150\">\n<p><strong>Time Period<\/strong><\/p>\n<\/td>\n<td width=\"150\">\n<p>12 Months<\/p>\n<\/td>\n<td width=\"150\">\n<p>12 Months<\/p>\n<\/td>\n<td width=\"150\">\n<p>12 Months<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h5><span class=\"ez-toc-section\" id=\"Edelweiss_views_on_BOB\"><\/span><strong>Edelweiss\u2019 views on BOB<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li>For FY23E, management expects 10-12 percent loan growth, a 10 basis point increase in NIM, and a 1.5% credit cost.<\/li>\n<li>Future Retail overhang has been dealt with, as evidenced by a rise in net credit cost to 2.5% from 2.3%. Provisioning for Future Retail accounted for the majority of the QoQ increase (now 100 percent provided for.) Credit costs are projected to decrease in the future.<\/li>\n<\/ul>\n<h5><span class=\"ez-toc-section\" id=\"LKP_Securities_view_on_BOB\"><\/span><strong>LKP Securities\u2019 view on BOB<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5><span class=\"ez-toc-section\" id=\"Good_Credit_Growth\"><\/span><strong>Good Credit Growth- <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li>Retail loans drove the bank&#8217;s credit expansion, which totaled $7.8 billion, up 10% year over year and 6% quarter over quarter. Retail (17 percent contribution), Corporate (37 percent contribution), and Agriculture (13 percent contribution) all increased by 9%, 3.5 percent, and 4% QoQ.<\/li>\n<li>For FY23, loan growth is expected to be between 10 and 12 percent. The bank&#8217;s CASA deposit increased by 5.7 percent QoQ, while the CASA ratio remained unchanged at 44.3 percent. With a CET 1 of 11.7 percent, the bank&#8217;s CRAR is 16 percent, down from 15.5 percent in the previous quarter.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-9882 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/xx.png\" alt=\"\" width=\"582\" height=\"468\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/xx.png 582w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/xx-300x241.png 300w\" sizes=\"(max-width: 582px) 100vw, 582px\" \/><\/p>\n<h5><span class=\"ez-toc-section\" id=\"The_GNPA_Gross_Non-performing_Asset_ratio_remains_stable\"><\/span><strong>The GNPA (Gross Non-performing Asset) ratio remains stable: <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li>Fresh slippages were at a higher level of 45 billion dollars in 4QFY22, compared to 28 billion dollars in the preceding quarter. The corporate book supplied 46% of the total slippages, while the retail sector contributed 10%. Slippages account for 28% of the contribution in the SME book.<\/li>\n<li>The decrease (upgradation, recovery, and write-offs) was 77 billion dollars, up from 70 billion dollars in the preceding quarter. accounts. NCLT exposure is $11.6 billion, with the bank expecting a $5 billion recovery in 1QFY23.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-9883 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/xxx.png\" alt=\"\" width=\"584\" height=\"464\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/xxx.png 584w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/06\/xxx-300x238.png 300w\" sizes=\"(max-width: 584px) 100vw, 584px\" \/><\/p>\n<h5><span class=\"ez-toc-section\" id=\"ICICI_Directs_View_on_BOB\"><\/span>ICICI Direct\u2019s View on BOB<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5><span class=\"ez-toc-section\" id=\"Con_Call_highlights\"><\/span><strong>Con Call highlights-<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li>Q3FY22 had a one-time effect of 10 basis points after subtracting the same margins, they have risen sequentially.<\/li>\n<li>Air India made a recovery of Rs 1000 crore, which was used to make extra provisions.<\/li>\n<li>BoB World plans to increase promotional spending and expects to increase client numbers from 2 million to 3 million in the following year.<\/li>\n<li>A significant chunk of the AFS book (40%) is on a variable rate (with a reset in June 2022). As a result, the impact of increased rates on the Treasury Book is unlikely to be considerable.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e1f5d94 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e1f5d94\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-25b686a\" data-id=\"25b686a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c282f4b elementor-widget elementor-widget-text-editor\" data-id=\"c282f4b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><em>Note \u2013 This channel is for educational and training purpose only &amp; 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We track stocks that have been covered by brokerages over the last few weeks and what are the key highlights of each report and the<\/p>\n","protected":false},"author":5,"featured_media":26920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":["post-9860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"metadata":{"_edit_lock":["1665653534:8"],"_edit_last":["8"],"qodef_content_behind_header":["no"],"qodef_show_header_widget_areas":["yes"],"qodef_top_area_header_in_grid":["no"],"_yoast_wpseo_primary_category":["24"],"_yoast_wpseo_focuskw":["Recent Brokerage Picks"],"_yoast_wpseo_title":["Recent Brokerage Picks- Havells & Bank of Baroda"],"_yoast_wpseo_metadesc":["This week we bring you highlights from two stocks covered by brokerage houses viz, HavellsIndia and Bank of Baroda."],"_yoast_wpseo_linkdex":["69"],"_yoast_wpseo_estimated-reading-time-minutes":["7"],"_elementor_edit_mode":["builder"],"_elementor_template_type":["wp-post"],"_elementor_version":["3.6.5"],"_wp_page_template":["default"],"_elementor_data":["[{\"id\":\"2090147\",\"elType\":\"section\",\"settings\":{\"qodef_offset_top\":\"50%\",\"qodef_offset_left\":\"50%\"},\"elements\":[{\"id\":\"a7bb726\",\"elType\":\"column\",\"settings\":{\"_column_size\":100,\"_inline_size\":null},\"elements\":[{\"id\":\"0b8c872\",\"elType\":\"widget\",\"settings\":{\"editor\":\"<p>In a dynamic market scenario, many stocks find themselves on the radar of brokerages, whose analysts do a detailed analysis on past performance as well as gauge the future potential. We track stocks that have been covered by brokerages over the last few weeks and what are the key highlights of each report and the reasons for choosing these stocks. This week we bring you highlights from two stocks covered by brokerage houses viz, Havells India and Bank of Baroda.<\\\/p><h5><strong>Havells India<\\\/strong><\\\/h5><p>Havells India Limited is leading electrical wires, equipment manufacturer and a Fast-Moving Electrical Goods (FMEG) company with a strong global presence. Havells has an enviable market share in a wide range of products, including Industrial and \\u00a0\\u00a0\\u00a0Domestic Circuit Protection Devices, Cables &amp; Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, and Luminaires for Domestic, Commercial, and Industrial Use.<\\\/p><p>With 'Havells Galaxy,' the firm pioneered the notion of an exclusive brand showroom in the electrical sector. Today, over 600 Havells Galaxies around the country assist home and business clients in selecting from a comprehensive range of goods for various uses.<\\\/p><p>\\u00a0<\\\/p><h5><strong><u>Broker\\u2019s Call <\\\/u><\\\/strong><\\\/h5><p>\\u00a0<\\\/p><table><tbody><tr><td width=\\\"150\\\"><p><strong>Broker House<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p><strong>ICICI Direct<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p><strong>HDFC Securities<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p><strong>BOB Caps<\\\/strong><\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>BUY (INR)<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>1250<\\\/p><\\\/td><td width=\\\"150\\\"><p>1249<\\\/p><\\\/td><td width=\\\"150\\\"><p>1120<\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>Target (INR)<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>1375<\\\/p><\\\/td><td width=\\\"150\\\"><p>1500<\\\/p><\\\/td><td width=\\\"150\\\"><p>1500<\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>Upside <\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>10%<\\\/p><\\\/td><td width=\\\"150\\\"><p>20%<\\\/p><\\\/td><td width=\\\"150\\\"><p>33%<\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>Time Period<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>12 Months<\\\/p><\\\/td><td width=\\\"150\\\"><p>12 Months<\\\/p><\\\/td><td width=\\\"150\\\"><p>12 Months<\\\/p><\\\/td><\\\/tr><\\\/tbody><\\\/table><h5><strong>ICICI Direct\\u2019s View on Havells India<\\\/strong><\\\/h5><ul><li><strong>Q4FY22 Result- <\\\/strong>There has been a strong performance of the company on the revenue side but high raw material prices, on the other hand, brought the overall EBITDA margin down.<\\\/li><li>EBITDA margin fell 340 basis points year over year to 11.8 %, owing mostly to decreased gross margin. Due to rising raw material prices and a delay in price hikes, gross margin fell by 812 basis points (300 basis points) YoY (300 basis points QoQ).<\\\/li><\\\/ul><p><img class=\\\"aligncenter wp-image-9869 size-full\\\" src=\\\"https:\\\/\\\/univest.in\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/zz.png\\\" alt=\\\"\\\" width=\\\"726\\\" height=\\\"376\\\" \\\/><\\\/p><p>\\u00a0<\\\/p><ul><li><strong>Lloyd Brand-<\\\/strong> Lloyd's inventory is at a regular level. The corporation wants to grow its market share in the RAC area even further. With price hikes, improved product mix, and positive operational leverage, management anticipates Lloyd's margin to be at company level in the medium to long term.<\\\/li><\\\/ul><p><img class=\\\"aligncenter wp-image-9873 size-full\\\" src=\\\"https:\\\/\\\/univest.in\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/zzz.png\\\" alt=\\\"\\\" width=\\\"906\\\" height=\\\"487\\\" \\\/><\\\/p><ul><li><strong>Capex<\\\/strong>- The company plans to incur Rs 700 Crore of Capital Expenditure for FY23 of which Rs 350 crore will be only for Lloyd division. Sri City's near-air conditioning production capacity is projected to be operational by the end of FY23.<\\\/li><\\\/ul><p>For FY22-24E, management anticipates a sales CAGR (Compounded Annual Growth Rate) of 13-14 percent. Long-term economic factors such as the real estate industry's resurgence, increased government capex, and growing disposable income are all still in place.<\\\/p><p>\\u00a0<\\\/p><h5><strong>HDFC Securities\\u2019<\\\/strong> <strong>view<\\\/strong> <strong>on Havells India<\\\/strong><\\\/h5><ul><li>Strong demand for fans fueled ECD's expansion. Although Lloyd main sales were somewhat higher than the industry, the industry as a whole has fared strongly. RAC contributes 80-85 percent of Lloyd revenue.<\\\/li><li>Growth momentum is solid across categories, with consumer, real estate, and government and private Capex all showing signs of improvement. In FY22, the company's volume increased by 11-12 percent.<\\\/li><li>Switchgear growth was impacted by COVID-led disruption on housing construction activities in Jan and Feb. Cables growth was across B2B and B2C, with a healthy mix of value and volume.<\\\/li><\\\/ul><h5><strong>BOB Capital\\u2019s view<\\\/strong> <strong>on Havells India<\\\/strong><\\\/h5><ul><li>The annual report for FY22 from HAVELL focuses on measures targeted at expanding distribution coverage (especially in rural regions) as well as R&amp;D. In the previous 21 months, new product revenue accounted for 17% of total revenue. Given the solid underlying demand, management is hopeful about margin recovery. With net cash of Rs 30 billion, the financial sheet is healthy.<\\\/li><\\\/ul><p><img class=\\\"aligncenter wp-image-9877 size-full\\\" src=\\\"https:\\\/\\\/univest.in\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/zzzz.png\\\" alt=\\\"\\\" width=\\\"630\\\" height=\\\"443\\\" \\\/><\\\/p><p>\\u00a0<\\\/p><ul><li><strong>Rural Reach- <\\\/strong>HAVELL's Rural Vistaar initiative (which began four years ago) has grown to include 3k rural villages and 40k retail locations, making it the FMEG company with the most rural reach. In addition, the business plans to establish a significant number of 'Utsav' shops, which correlate to 'Havells Galaxies' (brand stores) in the urban market, as part of this program.<\\\/li><\\\/ul><p><img class=\\\"aligncenter wp-image-9878 size-full\\\" src=\\\"https:\\\/\\\/univest.in\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/zzzzz.png\\\" alt=\\\"\\\" width=\\\"918\\\" height=\\\"420\\\" \\\/><\\\/p><h5><strong>Bank of Baroda <\\\/strong><\\\/h5><p>The Bank of Baroda is an Indian public sector bank with total assets of Rs. 11742 crore. The company's headquarters are in Vadodara (baroda). On July 20, 2008, Bank Of Baroda was established. In India, it has 5198 branches and 8030 ATMs. Savings accounts, fixed deposits, recurring deposits, loans, personal loans, PPF accounts, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, and a variety of other schemes are available.<\\\/p><p>\\u00a0<\\\/p><h5><strong><u>Broker\\u2019s Call <\\\/u><\\\/strong><\\\/h5><p>\\u00a0<\\\/p><table><tbody><tr><td width=\\\"150\\\"><p><strong>Broker House<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p><strong>Edelweiss<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p><strong>LKP securities<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p><strong>ICICI Direct<\\\/strong><\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>Date<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>June 10<\\\/p><\\\/td><td width=\\\"150\\\"><p>May 17<\\\/p><\\\/td><td width=\\\"150\\\"><p>May 16<\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>BUY (INR)<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>105<\\\/p><\\\/td><td width=\\\"150\\\"><p>100<\\\/p><\\\/td><td width=\\\"150\\\"><p>95<\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>Target (INR)<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>120<\\\/p><\\\/td><td width=\\\"150\\\"><p>128<\\\/p><\\\/td><td width=\\\"150\\\"><p>115<\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>Upside <\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>14%<\\\/p><\\\/td><td width=\\\"150\\\"><p>28%<\\\/p><\\\/td><td width=\\\"150\\\"><p>21%<\\\/p><\\\/td><\\\/tr><tr><td width=\\\"150\\\"><p><strong>Time Period<\\\/strong><\\\/p><\\\/td><td width=\\\"150\\\"><p>12 Months<\\\/p><\\\/td><td width=\\\"150\\\"><p>12 Months<\\\/p><\\\/td><td width=\\\"150\\\"><p>12 Months<\\\/p><\\\/td><\\\/tr><\\\/tbody><\\\/table><h5><strong>Edelweiss\\u2019 views on BOB<\\\/strong><\\\/h5><ul><li>For FY23E, management expects 10-12 percent loan growth, a 10 basis point increase in NIM, and a 1.5% credit cost.<\\\/li><li>Future Retail overhang has been dealt with, as evidenced by a rise in net credit cost to 2.5% from 2.3%. Provisioning for Future Retail accounted for the majority of the QoQ increase (now 100 percent provided for.) Credit costs are projected to decrease in the future.<\\\/li><\\\/ul><h5><strong>LKP Securities\\u2019 view on BOB<\\\/strong><\\\/h5><h5><strong>Good Credit Growth- <\\\/strong><\\\/h5><ul><li>Retail loans drove the bank's credit expansion, which totaled $7.8 billion, up 10% year over year and 6% quarter over quarter. Retail (17 percent contribution), Corporate (37 percent contribution), and Agriculture (13 percent contribution) all increased by 9%, 3.5 percent, and 4% QoQ.<\\\/li><li>For FY23, loan growth is expected to be between 10 and 12 percent. The bank's CASA deposit increased by 5.7 percent QoQ, while the CASA ratio remained unchanged at 44.3 percent. With a CET 1 of 11.7 percent, the bank's CRAR is 16 percent, down from 15.5 percent in the previous quarter.<\\\/li><\\\/ul><p><img class=\\\"aligncenter wp-image-9882 size-full\\\" src=\\\"https:\\\/\\\/univest.in\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/xx.png\\\" alt=\\\"\\\" width=\\\"582\\\" height=\\\"468\\\" \\\/><\\\/p><h5><strong>The GNPA (Gross Non-performing Asset) ratio remains stable: <\\\/strong><\\\/h5><ul><li>Fresh slippages were at a higher level of 45 billion dollars in 4QFY22, compared to 28 billion dollars in the preceding quarter. The corporate book supplied 46% of the total slippages, while the retail sector contributed 10%. Slippages account for 28% of the contribution in the SME book.<\\\/li><li>The decrease (upgradation, recovery, and write-offs) was 77 billion dollars, up from 70 billion dollars in the preceding quarter. accounts. NCLT exposure is $11.6 billion, with the bank expecting a $5 billion recovery in 1QFY23.<\\\/li><\\\/ul><p><img class=\\\"aligncenter wp-image-9883 size-full\\\" src=\\\"https:\\\/\\\/univest.in\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/xxx.png\\\" alt=\\\"\\\" width=\\\"584\\\" height=\\\"464\\\" \\\/><\\\/p><h5>ICICI Direct\\u2019s View on BOB<\\\/h5><h5><strong>Con Call highlights-<\\\/strong><\\\/h5><ul><li>Q3FY22 had a one-time effect of 10 basis points after subtracting the same margins, they have risen sequentially.<\\\/li><li>Air India made a recovery of Rs 1000 crore, which was used to make extra provisions.<\\\/li><li>BoB World plans to increase promotional spending and expects to increase client numbers from 2 million to 3 million in the following year.<\\\/li><li>A significant chunk of the AFS book (40%) is on a variable rate (with a reset in June 2022). As a result, the impact of increased rates on the Treasury Book is unlikely to be considerable.<\\\/li><\\\/ul><p>\\u00a0<\\\/p>\"},\"elements\":[],\"widgetType\":\"text-editor\"}],\"isInner\":false}],\"isInner\":false},{\"id\":\"e1f5d94\",\"elType\":\"section\",\"settings\":{\"qodef_offset_top\":\"50%\",\"qodef_offset_left\":\"50%\"},\"elements\":[{\"id\":\"25b686a\",\"elType\":\"column\",\"settings\":{\"_column_size\":100,\"_inline_size\":null},\"elements\":[{\"id\":\"c282f4b\",\"elType\":\"widget\",\"settings\":{\"editor\":\"<p><em>Note \\u2013 This channel is for educational and training purpose only &amp; any stock mentioned here should not be taken as a tip\\\/recommendation\\\/advice<\\\/em><\\\/p><p><em>Research done by:\\u00a0Ketan Sonalkar,\\u00a0SEBI Rgn No INA000011255<\\\/em><\\\/p>\"},\"elements\":[],\"widgetType\":\"text-editor\"}],\"isInner\":false}],\"isInner\":false},{\"id\":\"cdca7e8\",\"elType\":\"section\",\"settings\":{\"qodef_offset_top\":\"50%\",\"qodef_offset_left\":\"50%\"},\"elements\":[{\"id\":\"1a72a42\",\"elType\":\"column\",\"settings\":{\"_column_size\":100,\"_inline_size\":null},\"elements\":[{\"id\":\"3ba78fa\",\"elType\":\"widget\",\"settings\":{\"social_icon_list\":[{\"social_icon\":{\"value\":\"fab fa-facebook\",\"library\":\"fa-brands\"},\"_id\":\"b79fad1\",\"link\":{\"url\":\"https:\\\/\\\/www.facebook.com\\\/Univest.in\",\"is_external\":\"true\",\"nofollow\":\"\",\"custom_attributes\":\"\"}},{\"social_icon\":{\"value\":\"fab fa-twitter\",\"library\":\"fa-brands\"},\"_id\":\"d960058\",\"link\":{\"url\":\"https:\\\/\\\/twitter.com\\\/InUnivest\",\"is_external\":\"true\",\"nofollow\":\"\",\"custom_attributes\":\"\"}},{\"_id\":\"1a41792\",\"social_icon\":{\"value\":\"fab fa-whatsapp\",\"library\":\"fa-brands\"},\"link\":{\"url\":\"https:\\\/\\\/wa.me\\\/+919810917800\",\"is_external\":\"true\",\"nofollow\":\"\",\"custom_attributes\":\"\"}},{\"_id\":\"0a982ac\",\"social_icon\":{\"value\":\"fab fa-telegram\",\"library\":\"fa-brands\"},\"link\":{\"url\":\"https:\\\/\\\/t.me\\\/Univest_in\",\"is_external\":\"true\",\"nofollow\":\"\",\"custom_attributes\":\"\"}},{\"_id\":\"c9974a4\",\"social_icon\":{\"value\":\"fab fa-instagram\",\"library\":\"fa-brands\"},\"link\":{\"url\":\"https:\\\/\\\/www.instagram.com\\\/univest.in\\\/\",\"is_external\":\"true\",\"nofollow\":\"\",\"custom_attributes\":\"\"},\"item_icon_color\":\"custom\",\"item_icon_primary_color\":\"#AF1A62\",\"item_icon_secondary_color\":\"#FFFFFF\"},{\"_id\":\"6cd9e60\",\"social_icon\":{\"value\":\"fab fa-linkedin\",\"library\":\"fa-brands\"},\"link\":{\"url\":\"https:\\\/\\\/www.linkedin.com\\\/company\\\/univest-in\",\"is_external\":\"true\",\"nofollow\":\"\",\"custom_attributes\":\"\"}}],\"shape\":\"circle\",\"align\":\"left\",\"icon_size\":{\"unit\":\"px\",\"size\":29,\"sizes\":[]},\"icon_padding\":{\"unit\":\"em\",\"size\":0.5,\"sizes\":[]},\"icon_spacing\":{\"unit\":\"px\",\"size\":6,\"sizes\":[]}},\"elements\":[],\"widgetType\":\"social-icons\"}],\"isInner\":false}],\"isInner\":false}]"],"_yoast_wpseo_content_score":["60"],"_nectar_love":["0"],"nectar_blog_post_view_count":["262"],"_schema_ref":["11166"],"_schema_json":["a:12:{s:8:\"@context\";s:19:\"https:\/\/schema.org\/\";s:5:\"@type\";s:11:\"BlogPosting\";s:16:\"mainEntityOfPage\";a:2:{s:5:\"@type\";s:7:\"WebPage\";s:3:\"@id\";s:65:\"https:\/\/univest.in\/recent-brokerage-picks-havells-bank-of-baroda\/\";}s:3:\"url\";s:65:\"https:\/\/univest.in\/recent-brokerage-picks-havells-bank-of-baroda\/\";s:8:\"headline\";s:48:\"Recent Brokerage Picks- Havells & Bank of Baroda\";s:13:\"datePublished\";s:25:\"2022-06-14T16:49:44+05:30\";s:12:\"dateModified\";s:25:\"2022-06-14T17:05:29+05:30\";s:9:\"publisher\";a:4:{s:5:\"@type\";s:12:\"Organization\";s:3:\"@id\";s:32:\"https:\/\/univest.in\/#organization\";s:4:\"name\";s:7:\"Univest\";s:4:\"logo\";a:4:{s:5:\"@type\";s:11:\"ImageObject\";s:3:\"url\";s:62:\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/Univest-Logo.png\";s:5:\"width\";i:600;s:6:\"height\";i:60;}}s:5:\"image\";a:4:{s:5:\"@type\";s:11:\"ImageObject\";s:3:\"url\";s:52:\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/zz.png\";s:5:\"width\";s:3:\"726\";s:6:\"height\";s:3:\"376\";}s:14:\"articleSection\";s:6:\"Market\";s:11:\"description\";s:280:\"In a dynamic market scenario, many stocks find themselves on the radar of brokerages, whose analysts do a detailed analysis on past performance as well as gauge the future potential. 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