Jefferies expects India's Amber Enterprises' capital returns to rise; shares up

Amber Enterprises India

23/09/2024 08:57

** Amber Enterprises  AMBE.NS  shares jump 9% to 4742
rupees, the sharpest rise in over a year
    ** Jefferies expects consumer durables maker's return on
capital employed (ROCE) to rise to ~20% by FY26 from ~10% in
FY24
    ** Brokerage maintains 'buy' rating on co, with PT of 5,200
rupees
    ** Amber Enterprises  AMBE.NS  expects air conditioner (AC)
industry vol growth to reach 30 mln-35 mln units by 2030,
implying +17% CAGR over the next 7 years, Jefferies said
    ** Domestic AC industry benefited from strong Q1 summer,
likely to drive 30% volumes in FY25 - Jefferies 
    ** In electronics business, imposition of Anti-Dumping Duty
on Printed Circuit Boards enabled AMBE to induct new customers -
Jefferies
 

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