India's Emami rises as Motial Oswal hikes target price

Emami

03/07/2024 08:49

** Shares of consumer goods co Emami  EMAM.NS  up 3.6% to 749.3
rupees
    ** Brokerage Motilal Oswal ups PT on stock to 850 rupees
from 600 rupees earlier, keeps "Buy" rating 
    ** Motilal's PT is the highest among 25 brokerages covering
the stock, per LSEG data 
    ** Co's initiatives to boost volume growth will likely
accelerate in FY25, driven by rural growth improvement and
seasonal tailwinds - Motilal 
    ** Expects re-rating in valuation on the back of consistent
growth in co's earnings
    ** Co looking to counter seasonal fluctuations by expanding
portfolio through acquisitions and extensions, Motilal said,
citing an interview with Vice Chairman Mohan Goenka 
    ** Analysts' avg rating on stock is "Buy", median PT is
626.5 rupees 
    ** Including session's gains, stock is up 33% YTD 


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))