Mamaearth parent company Honasa surges 20% as Jefferies sees 25% upside
时间:2024-06-17 22:24:50 阅读(143)
Honasa Consumer, the parent company of the popular beauty and personal care brand Mamaearth, witnessed a remarkable 20 percent surge in its shares, reaching Rs 422.5 per share on November 23. This surge follows the company’s impressive Q2 financial results, which revealed a doubling of net profit to Rs 30 crore.
Jefferies, a leading financial services firm, responded positively to Honasa Consumer’s Q2 performance and reiterated a ‘buy’ rating on the stock. The brokerage firm has set a target of Rs 530 per share, indicating a substantial 25 percent upside from the current levels. In addition to the ‘buy’ rating, Jefferies has also upgraded its earnings per share (EPS) estimates on Honasa Consumer stock by 5-6 percent.
Honasa Consumer, the umbrella company for direct-to-consumer (D2C) brands such as Mamaearth, The Derma Co, and BBlunt, showcased a noteworthy turnaround from the year-ago period’s loss of Rs 15 crore. The Q1 of FY24 has reported a profit of Rs 24.7 crore.
Jefferies’ assessment of Honasa Consumer’s performance highlighted a growth deceleration from the fiscal first quarter. However, Jefferies has attributed this slowdown to an Enterprise Resource Planning (ERP) changeover. Jefferies emphasized that the genuine reflection of the company’s performance is evident in the remarkable H1 growth of over 35 percent.
Jefferies concluded by upgrading the EPS by 5-6% and reiterating a ‘Buy’ recommendation for Honasa Consumer’s stock, reflecting confidence in the company’s future growth trajectory and financial strength.
猜你喜欢
- NASA’s Artemis Moon Mission to land humans on moon delays to September 2026
- Nifty charts showing indecisiveness between bulls, bears; REC, Ultratech Cement, Mphasis among stocks to buy
- US Stocks- Wall Street slips as growth stocks struggle amid rising bond yields
- Petrol and Diesel Rate Today, 28 March- Fuel prices unchanged; Check rates in Delhi, Mumbai, other cities
- US Stocks- Wall Street set for higher open as tech stocks rebound, oil drops
- Union Bank to raise Rs 2,200 crore via bond issue
- Musk wants Twitter to be ‘most respected advertising platform’
- NASA’s Artemis 2 Lunar Mission- A Celestial Journey with BTS Tunes
- Petrol, Diesel Price Today, 6 September 2022- Fuel prices unchanged; check rates in Delhi, Noida, other cities