Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting April 28, 2025) are ICICI Bank and 360 One WAM. Let’s take a look:
ICICI Bank
ICICI Bank reported a healthy Q4 performance with PAT ₹126b (5% beat, 18% YoY growth), driven by robust NIM expansion, healthy other income, controlled provisions and contained operating expenses. ICICI Bank posted 11% YoY NII growth with NIM rising by 16bp QoQ to 4.41%. Net advances grew 13% YoY, while deposits rose 14% YoY. Secured asset quality remained stable (excl. agri) with no signs of stress, leading to an improvement in the GNPA ratio.
We upgraded our earnings estimates by 2.5%/4.2% for FY26/FY27 on the back of positive NIM surprise and controlled credit cost. We thus estimate RoA/RoE of 2.3%/17.5% in FY27. ICICI remains our top preference in the sector.
360 One WAM
360 ONE recorded its highest-ever annual PAT of INR10.2b (+27% YoY) driven by 41% YoY recurring revenue growth, improved ARR yields (76bp vs 72bp), and AUM surge to INR5.8t (+25% YoY), alongside a sharp cost-to-income ratio decline to 45.9%. Its exclusive collaboration with UBS—including a 4.95% stake acquisition (INR2.1b) & integration of UBS India’s wealth business—unlocks global distribution channels, inbound/outbound client synergies, & access to offshore wealth solutions, amplifying cross-border growth potential.
Management expects 20-25% AUM CAGR, expected to translate into revenue growth of 15-20% & PAT growth of 20-25%. 360ONE is well-placed to benefit from industry tailwinds, via UBS-driven global inflows, B&K’s equity brokerage expansion, and mid-market penetration.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.