India'a Doms, Flair Writing jump; Numava starts coverage with 'buy'

Doms Industries

16/04/2024 08:26

** Shares of stationery makers Doms Industries  DOMS.NS  and
Flair Writing Industries  FLAI.NS  up nearly 4% and 2%
respectively
    ** Nuvama initiates coverage on stocks with a 'buy'
recommendation; sets PTs at 1,944 rupees and 463 rupees,
respectively
    ** Brokerage expects the branded players to post 17% CAGR in
revenue over FY23–28, compared to industry's 13% CAGR growth
    ** Says DOMS' FY24 margins likely to be upwards of 17% vs
co's guidance of 15%-17%, helped by lower raw material prices
    ** Nuvama says FLAI's profit to rise 15% CAGR over FY24–26
despite near-term weakness in exports and OEM business
    ** DOMS up 39.7% YTD, while FLAI down 14.4%

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))