India's FirstCry parent happy as Kotak initiates rating with 'add'

Brainbees Solutions

12/12/2024 06:37

** Shares of FirstCry parent Brainbees Solutions  BRAE.NS 
rise as much as 4% to 624 rupees, their highest pct gain since
Nov 7   
    ** Brokerage Kotak Institutional Equities initiates coverage
with "add" and an fair value of 630, an upside of 3.6% from the
current price
    ** Says growing scale, profitability will drive 17% revenue
growth and 30% adjusted EBITDA over FY2024-27
    ** Kotak attributes growth to increasing customers and
average order value
    ** Kotak sees weak macro demand trends, higher competitive
intensity, higher raw materials prices among key risks
    ** BRAE set to extend gains for a second straight session
    ** Stock has fallen ~12% since trading debut on Aug. 13
    
    

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))