Weekly Fundamental With Rini Mehta | 24th July 2023

Weekly Outlook: ICICIPRU among Top Stock Picks. FII Net Buyer Highlights of 24th July Fundamental Weekly Podcast- Nifty 50 and Sensex 30 index made new highs.- The BSE Midcap and BSE Smallcap index also gave positive returns.- BSE Bankex moved up by morethan 3% while BSE IT index under-perfomed.- Flls continue to be a net buyer to the tune of Rs. 17,698.66 crores, to date in July'23.- PICK OF THE WEEK – ICICIPRU - TARGET - Rs 675 BUY- ICICI Prudential Life reported a 7% decline in VNB owing to a 4% decline in APE and almost flat margins- June trends were encouraging; we remain optimistic with a constructive outlook.- Despite the runup, valuations are not very demanding; we retain a BUY with an FV of Rs675 (up from Rs610).