India's Jyothy Lab shares rise; Macquarie Research initiates coverage

Jyothy Labs

05/04/2019 05:54

** Shares of consumer goods co Jyothy Laboratories Ltd
 JYOI.NS  rise as much as 5.7 pct to 192.9 rupees, in their
biggest intraday pct gain since Dec 2018 
    ** Macquarie Research initiates coverage with "outperform"
rating and TP of 250 rupees, with an upside of 37 pct
    ** Focus on new product launches, higher advertising &
promotion spend and IT-led distribution enhancement will boost
volume growth - Macquarie
    ** Macquarie expects about 21 pct PAT CAGR and 220bps
increase in ROE in the next two years, and says they are 9-11
pct ahead of consensus earnings for the next two years
    ** Brokerage says differentiated product positioning, new
product launches and investments in key brands are leading to
market share gains
    ** Stock hits highest since March 7

 ((harish.bhaskar.thomsonreuters.com@reuters.net))