ICICI Direct recommended hold rating on 5paisa Capital with a target price of Rs 375 in its research report dated December 07, 2022.
December 08, 2022 / 11:09 AM IST
ICICI Direct’s research report on 5paisa Capital
5Paisa is a leading discount stock broker backed by the Nirmal Jain led IIFL group. Aggressive client accretion with ~86% of incremental client from Tier II & below cities and ~75% of customers below 35 years of age • The company has overall cash market share of ~3% as on September 2022.
We downgrade our recommendation on the stock from BUY to HOLD. We continue to value 5Paisa at ~24x FY24E EPS to keep target price at Rs 375.
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