India's Amber Enterprises gains as Kotak raises PT, growth view

Amber Enterprises India

17/03/2025 06:04

** Kotak Institutional Equities raises PT and earnings estimates for Amber Enterprises India AMBE.NS mid strong summer

** AMBE up 4.5% on the day to hit a one-month high of 6,655 rupees

** Brokerage firm expects co's consumer durables segment to grow 15% in March quarter, vs 10% earlier

** Says further upward revision likely if primary offtake remains strong at the end of March

** Amber to benefit from a strong summer season, driven by stocking of compressors for the season and tie-ups with international brands that have their own compressor facilities, brokerage adds

** Raises FY25-FY27 earnings estimate by 1-2%, PT to 7,800 rupees from 7,720 while retaining "Add" rating

** Analysts avg rating on stock "Buy", median PT 7,800 rupees, as per LSEG data

** Stock down 10% YTD

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))