India's Allied Blenders gains as ICICI Securities begins coverage with 'buy'

Allied Blenders and Distillers

29/11/2024 07:48

** Allied Blenders and Distillers  ALLE.NS  is
well-positioned to capture the premiumisation trend in the
alcohol-beverages sector by launching new luxury products, ICICI
Securities says
    ** Stock last up 2% to 329.5 rupees
    ** Brokerage initiates coverage on the liquor-maker with a
"buy" rating at TP of 400 rupees 
    ** ABD working to drive market share gains for the
'Officer's Choice Whisky' brand in affordable premium category,
brokerage says
    ** Co is boosting profitability by focusing on states with
higher margins and reducing efforts in less profitable ones -
ICICI
    ** Says ABD's strong distribution network, manufacturing
capabilities allowed it to garner significant share of mass
premium market
    ** ABD operates in a highly regulated market with pricing
and cost challenges but leverages its premiumisation strategy to
drive net sales value per case and margin growth - ICICI

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))