India's Honasa hits nearly 2-year high after quarterly profit more than doubles
BUZZ-India's Honasa hits nearly 2-year high after quarterly profit more than doubles ** Shares of India's Honasa Consumer HONA.NS rise as much as 4.6% to 501.60 rupees, highest level since September 2024
** HONA last up 2.2%
** Beauty and personal care company on Thursday said first-quarter profit more than doubled y/y; rev from ops up 27% y/y
** JPMorgan ("underweight", PT 410 rupees) says rev growth largely volume-led, adds consistent execution is key watch-item in more competitive landscape
** Jefferies ("buy", PT 650 rupees) says EBITDA margin expanded to multi-quarter high, led by better mix, operating leverage and seasonality
** More than 8 mln shares change hands by 9:58 AM, more than 8.5x the 30-day avg
** HONA on avg rated "buy" by 13 analysts; median PT is 500 rupees - LSEG data
** Stock up 71.2% YTD
(Reporting by Abhirami G in Bengaluru)
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