India's Honasa Consumer rises after maiden investor day
BUZZ-India's Honasa Consumer rises after maiden investor day June 12 - ** Shares of India's Honasa Consumer HONA.NS rise as much as 2% to 422.6 rupees, stock last up 0.5%
** If gains hold, stock will post a fourth straight session of rise
** Co plans to focus on core personal care, beauty categories where its brands are seeing recovery helped by strong distribution channels, Kotak says after investor day
** To support growth, co looking to move beyond online-first, direct-to-consumer channels and expand into traditional and large-scale retail formats to broaden customer base
** JP Morgan notes that execution of HONA's growth plans will be critical, given competitive beauty and personal care segment amid D2C peers competing for the same consumer occasions
** Kotak says co appears well-positioned to drive growth across its existing brands while expanding to new categories such as nutraceuticals, fragrances
** 8 out of 12 brokerages rate HONA "buy" or higher, median PT 462 rupees - LSEG-compiled data
** YTD, stock up 46.31%
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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