India's Amber Enterprises gains as Jefferies raises PT to Street-high

Amber Enterprises India

03/01/2025 07:54

** Shares of consumer durable products manufacturer
Amber Enterprises  AMBE.NS  climb 1.7% to 7,675.65 rupees
  
        ** Jefferies says Amber is its top pick in the
electronics manufacturing services sector; retains "buy" rating
and raises PT to Street-high of 8,840 rupees
  
    ** Jefferies sees co's sales growing 23% CAGR in FY24-27,
led by its fast-growing components business, as well as capacity
and client addition, and highlights government manufacturing
incentives as a bonus
    ** Adds, stock is its top small and midcap pick
    ** Avg rating of 22 analysts is a 'buy' on avg, with median
PT at 6,760 rupees - LSEG
    ** Stock more than doubled in value in 2024, outperforming
the Nifty Midcap 100  .NIFMDCP100  index's 24% climb


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))