India's Emami hits near 3-yr high on upbeat outlook

Emami

30/05/2024 10:32

** Shares of Emami Ltd  EMAM.NS  rise as much as 18.2% to
619 rupees, their highest level since Aug. 2021 
    ** EMAM expects double digit sales growth for FY25 led by
pick-up in demand
    ** Stock set for its best day since Aug. 2020
    ** Demand recovery to help topline growth after two years of
muted trends - Jefferies 
    ** Jefferies upgrades EPS estimate for FY24-26 by 2%, raises
PT to 630 rupees from 580 rupees earlier
    ** Avg rating of 25 analyst covering the stock is "buy"
their median PT is 590.50 rupees up from 560 rupees, a month ago
- LSEG data
    ** Stock sees second most active session ever, nearly 13 mln
shares traded

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))