India's Allied Blenders climbs; Systematix begins with 'buy'

Allied Blenders and Distillers

15/01/2025 06:19

** Whisky maker Allied Blenders and Distillers  ALLE.NS 
gains 2.8% to 404.4 rupees
    ** Systematix Institutional Equities initiates with "buy";
sets TP of 502 rupees, a 27.6% premium to last close
    ** Says ALLE's strong manufacturing and distribution
supported by backward integration and premiumisation of products
to drive strong growth and profitability
    ** Estimates 12.6% rev CAGR over FY24-27
    ** Adds ALLE's ICONIQ White spirit brand set to achieve
annual run rate of 4.5 mln-5 mln cases in FY25 vs year-ago 2.3
mln cases
    ** Systematix second brokerage to cover stock; ICICI
Securities  ICCI.NS  has "buy", TP of 500 rupees - LSEG
    ** ALLE gains 26.4% since debut on July 2, 2024

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))