India's Laxmi Dental climbs as brokerage starts with 'buy'

Laxmi Dental

26/03/2025 04:29

** Shares of Laxmi Dental LAXD.NS gain as much as 5% to 435.25 rupees; snapping three sessions of losses

** Brokerage Nuvama starts coverage on stock with 'buy' and  price target of 570 rupees, implying a ~38% upside from the last close

** Says the dental products maker is poised to capture meaningful share of the "underpenetrated and fragmented" dental care market

** Adds LAXD's wide portfolio, demand for aesthetics in dental care, digitalisation and rising income are key tailwinds for co's growth

** Laxmi is directly targeting dental service organizations in the U.S., which should also accelerate exports growth - Nuvama

** Expects revenue and adjusted PAT to grow at 26% and 59% CAGR over FY25-28

** LAXD down ~23% since trading debut on January 20

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))