India's Kewal Kiran Clothing at record high on another "buy" rating

Kewal Kiran Clothing

11/07/2023 09:09

** Kewal Kiran Clothing  KKCL.NS  jump 9.4% to record high
of 628.95 rupees, with trading vols the highest since mid-Dec
    ** Antique Stock Broking starts with "buy" and a Street-high
PT of 805 rupees, implying ~40% upside
    ** Avg rating of 4 other analysts on KKCL is the equivalent
of "buy" with their PTs between 494-600 rupees -Refinitiv data
    ** Antique expects KKCL, which houses brands like Killer, to
post rev/ EBITDA/ profit growth of 18%/ 21%/ 22% over FY23-25
    ** Says KKCL's plans to add 80-100 brand outlets annually
will boost growth, while margins are protected as falling raw
material costs negates need for price cuts
    ** KKCL on pace for seventh consecutive session of gains,
taking YTD gains to ~21%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))