India's Ethos rises; Emkay hikes PT, expects profit growth rebound in FY27

Ethos

04/09/2026 05:07

** Shares of premium watch retailer Ethos Ltd ETHO.NS up about 1% at 2,820.40 rupees 
** Emkay says Ethos likely to see FY27 profit after tax growth to rebound as exchange rate between Swiss Franc (CHF) and Indian rupee stabilises 
** Brokerage reiterates "buy" rating, raises TP by ~6% to 3,400 rupees
** Ethos, which retails Swiss watch brands such as Rolex, Omega, and Tissot, continues to see strong growth in Swiss exports to India
** India is emerging as a key luxury consumption market as it has moved up in ranks in terms of Swiss watch exports globally, Emkay says
** Company's healthy balance sheet provides headroom to sustain new watch expansion and help ramp up the luxury lifestyle vertical: Emkay
** Ethos stock down 5.57%, YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com; (+91) 8296756080))