September 11, 2018 / 6:48 AM / a month ago

BUZZ-India's ICICI Securities rises; Citi initiates with 'buy'

** Shares of ICICI Securities Ltd gain as much as 3.1 pct to 337.45 rupees, their highest in over a week

** Citi Research initiates coverage with ‘buy’ rating and TP of 425 rupees

** Citi expects ICICI Securities to be the key beneficiary of shift to financial avenues of savings from physical avenues such as real estate and gold

** Cross-selling to ICICI Bank customers can drive growth in client base - Citi

** ICICI Securities, India’s largest equity broker, in April saw a tepid market debut after its IPO that raised a lower-than-expected $541 mln at 520 rupees per share

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