This ICICI Stock Surged 103.85% In 3 Years, Brokerage Sees 45% Potential Upside

Total broking revenue, at Rs 5.1bn (-9% QoQ), was 3% below estimates, primarily because of a 11% miss on pure broking revenues, partly offset by strong growth in transactional charges under the NEO plan. After five quarters of weak trends, pure broking revenues de-grew 19% sequentially, as cash volume declined 20% QoQ,