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ICICI Securities Initiates Coverage On Honasa With ‘BUY’ Rating, Sees 28% Upside

Inc42 · 1y ago

ICICI Securities Initiates Coverage On Honasa With ‘BUY’ Rating, Sees 28% Upside

ICICI Securities has initiated coverage on Honasa Consumer Ltd, the parent company of Mamaearth, with a ‘BUY’ rating and a price target of INR 550 per share. The brokerage believes that Honasa's agile and low-risk business model, along with its digital-first approach, positions it well in the beauty and personal care industry. Honasa's portfolio of brands, including Mamaearth, The Derma Co, and others, is expected to benefit from industry growth. While the report highlights challenges in scaling offline distribution and the limitations of a niche natural ingredient-oriented approach, Honasa's newer brands are experiencing strong growth. Shares of Honasa have surged since listing on the stock exchanges in November last year.

Related News

Citi Initiates Coverage On Mamaearth With ‘Buy’ Rating, Sees 24% Upside

Inc42 · 1y ago

Citi Initiates Coverage On Mamaearth With ‘Buy’ Rating, Sees 24% Upside

Mamaearth's parent company, Honasa Consumer Ltd, has received a 'buy' rating from brokerage firm Citi Research. Citi expects the company to outperform in terms of growth due to its strong brand positioning and market opportunity. It has set a price target for Honasa of INR 550, representing a potential upside of 24%. The brokerage also noted that Honasa's innovative products, expansion into new categories, and margin expansion are positive factors for its long-term success. Mamaearth saw a 264% increase in net profit in Q3 FY24, with its revenue expected to grow at a 25% CAGR over the FY24-FY26 period.

Investec initiates coverage on Stylam Industries with buy call, sees 41% upside

Money Control

Money Control · 1y ago

Investec initiates coverage on Stylam Industries with buy call, sees 41% upside

Shares of Stylam Industries surged around nine percent following coverage initiation by Investec with a 'buy' rating and a target price of Rs. 2,362, implying a 41 percent upside. Investec mentioned the rapid revenue growth of Stylam in both domestic and export markets, highlighting the company's strong execution and distribution strategies. Stylam Industries has delivered consistent revenue growth and has outperformed peers on operating metrics, benefiting from cost control measures. The company could witness a 19 percent CAGR in EBITDA over FY24-26E.

ICICI Securities Raises Zomato’s PT To INR 300

Inc42 · 1y ago

ICICI Securities Raises Zomato’s PT To INR 300

ICICI Securities has reaffirmed its "BUY" rating on Zomato and raised its price target to INR 300. The brokerage cited the company's sustained growth trajectory and improvement in profitability metrics for the increase. The new PT represents a potential upside of over 67% from the stock's last closing price. Zomato's stock has surged over 200% in the past year due to positive quarterly financial results and new offerings. Multiple brokerages have raised their price targets for the stock, with one expecting it to reach INR 400 in the next five years.

Analysts initiates coverage on this Jhunjhunwala stock; see upto 80% uspide

Business Today

Business Today · 5m ago

Analysts initiates coverage on this Jhunjhunwala stock; see upto 80% uspide

Domestic brokerage firms Nuvama and JM Financial have initiated coverage on a recently-listed stock linked to famed investor Jhunjhunwala, projecting an upside potential of up to 80%. This suggests strong market confidence and anticipated growth, highlighting the stock as a notable investment opportunity. The coverage by reputable firms underscores the potential value increase, catching the attention of investors seeking promising stocks in the market with substantial returns.

Equirus Initiates Coverage On Listed Fintech Startup Zaggle, Signals 43% Upside

Inc42 · 1y ago

Equirus Initiates Coverage On Listed Fintech Startup Zaggle, Signals 43% Upside

Zaggle, a listed fintech startup, has garnered attention from brokerage firm Equirus Securities, which has initiated coverage on the company with a 'LONG' rating and a price target of INR 400. Zaggle's unique business model generates only a fraction of its revenue directly from corporate clients, with the majority coming from merchants and redemption of reward vouchers. Equirus believes Zaggle is in an early growth phase, with potential for new customer acquisition, cross-selling, global expansion, and new product offerings. The company reported a significant increase in profit in the third quarter of FY24.

ICICI Securities Upgrades Awfis To ‘Buy’, Ups Price Target To INR 839 On Expansion Plans

Inc42 · 11m ago

ICICI Securities Upgrades Awfis To ‘Buy’, Ups Price Target To INR 839 On Expansion Plans

ICICI Securities has raised its price target (PT) for Awfis by 11% to INR 839 citing the company's improving financial performance and expansion. This increase comes after Nuvama also gave Awfis a 'Buy' rating and a PT of INR 1,013 earlier this month.

JM Financial initiates buy rating on TBO Tek; estimates Rs 465 Cr revenue in Q4 FY25

Entrackr

Entrackr · 4m ago

JM Financial initiates buy rating on TBO Tek; estimates Rs 465 Cr revenue in Q4 FY25

JM Financial initiates buy rating on TBO Tek; estimates Rs 465 Cr revenue in Q4 FY25 JM Financial Institutional Securities has reiterated its Buy rating on TBO Tek, setting a target price of Rs 1,400. This implies a potential upside of 31.5% from the current market price of Rs 1,065 per share. According to JM Financial, TBO Tek’s revenue from operations will see a 25.8% year-on-year growth to Rs 464.5 crore in Q4 FY25, compared to Rs 369.1 crore in the same quarter the previous fiscal year (Q4 FY24). Revenue from hotel and package bookings is expected to contribute 78.7% of TBO’s total income, rising 34.6% year-on-year to Rs 365.9 crore in Q4 FY25 from Rs 271.8 crore in Q3 FY24. Meanwhile, income from air ticketing and other allied services is projected to add Rs 86.9 crore and Rs 11.6 crore, respectively, to the company’s topline. TBO’s gross profit margin is projected to rise to 70.3% in Q4 FY25, up from 68% in Q4 FY24. Moreover, its profit after tax is expected to see a modest year-on-year growth of 1.28%, reaching Rs 47.2 crore in Q4 FY25, compared to Rs 46.6 crore in the same quarter last year. On a sequential basis, the company is expected to end the previous fiscal year (FY25) with a revenue of Rs 1755.8 crore and a profit of Rs 214.5 crore. TBO Tek ended the day at Rs 1,065.5 on April 8, with a market capitalization of Rs 11,570 crore (approximately $1.36 billion). Notably, the stock had touched its 52-week low just a day earlier, on April 7, 2025.

Jefferies retains 'buy' rating on HDFC Bank, foresees over 20% upsurge

Money Control

Money Control · 1y ago

Jefferies retains 'buy' rating on HDFC Bank, foresees over 20% upsurge

Analysts at Jefferies have maintained a 'buy' rating on HDFC Bank, stating that the improvement in net interest margins is crucial for increasing return on assets and re-rating valuations. They assigned a target price of Rs 1,800 per share, indicating a potential upside of 20%. The bank's Q4 financial results will be announced on April 20, 2024. Jefferies also mentioned that the bank's potential for credit growth over the next five years will be influenced by deposit market share gains.

NCLAT issues notice to ICICI Securities in delisting case | Mint

Livemint

Livemint · 11m ago

NCLAT issues notice to ICICI Securities in delisting case | Mint

- NCLAT issues notice to ICICI Securities following appeal by minority shareholders against delisting approval. - Minority shareholders own 0.002% and 0.08% of ICICI Securities' equity share capital. - NCLT had dismissed objections filed by minority shareholders against delisting in August. - ICICI Securities challenges the maintainability of the petition filed by minority shareholders. - Bench agrees to hear the appeal on its merits. - ICICI Securities announced delisting plan and merger with parent ICICI Bank in June 2023.

Nykaa’s Growth Plans Get Thumbs Up From Brokerages, ICICI Securities Raises PT To INR 195

Inc42 · 1y ago

Nykaa’s Growth Plans Get Thumbs Up From Brokerages, ICICI Securities Raises PT To INR 195

ICICI Securities has upgraded the stock rating of Nykaa to 'Add' from 'Hold' and increased its price target to INR 195. Meanwhile, Kotak Institutional Equities has maintained an 'Add' rating with an unchanged fair value of INR 195. Nykaa revealed during its investor day that it anticipates its beauty business to experience a compound annual growth rate of mid-to-late 20s% until FY28.

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