India's Campus Activewear jumps; CLSA sees double-digit growth potential

Campus Activewear

09/02/2023 08:51

** Shares of Campus Activewear  CAMU.NS  rises as much as
6.17%, steepest intraday rise in over six weeks, to 394.90
rupees
    ** Brokerage CLSA selects CAMU as the key pick in consumer
discretionary space in 2023
    ** Margin pressure concerns seem to be overdone after 40%
stock correction from peak levels, says CLSA; maintains "buy"
rating with a target price of 470 rupees
    ** Co continues to add to its 20% market share in organised
shoe market and sizeable opportunity exists in Indian athleisure
market - CLSA
    ** CAMU has the potential to deliver long-term, sustainable,
double-digit growth, according to the brokerage
    ** Trading volume is 912,218 shares as of 2:03 p.m. IST,
more than thrice the 30-day avg of 279,732 shares
($1 = 82.6350 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))