ICICI Securities Recommends Buy on Aditya Infotech; Target Rs 1800

• ICICI Securities recommends 'Buy' on Aditya Infotech (AIL) with a target price of Rs 1800.
• AIL is expected to gain market share due to strong brand equity, manufacturing expansion, and favorable regulations.
• New brands Eyra and Nexivue launched to capture the bottom-of-pyramid market, alongside increased ad-spends and galaxy stores for brand building.
• Revenue from IP cameras is projected to exceed 90% in 3-4 years, indicating a shift in product focus.
• Strategic partnership with Qualcomm for video security solutions and smaller competitors' investment phase are key growth drivers.

Why It Matters: ICICI Securities maintains 'Buy' on Aditya Infotech, citing strong growth drivers and a Rs 1800 target.