India's Metro Brands rises after Kotak upgrades rating
BUZZ-India's Metro Brands rises after Kotak upgrades rating ** Shares of footwear retailer Metro Brands METB.NS up 2.1% at 941 rupees
** Brokerage Kotak Institutional Equities upgrades METB to "add" from "reduce", citing growth improvement for listed footwear players post after cut in GST in Sept 2025
** Kotak expects METB to continue on its mid-to-high teen revenue growth trajectory, despite some shift of festive sales from Q2 to Q3
** The brokerage attributes METB's acceleration in sports and athleisure segment to normalizing footwear imports and easing Indian regulatory hurdles
** Kotak also sees attractive long-term potential in budget-friendly footwear brand 'Walkway'
** Brokerage still lowers METB's fair value to 1,000 rupees from 1,050 rupees
** Avg rating of 21 analysts is "buy" and median PT is 1,200 rupees - data compiled by LSEG
** YTD, METB down ~22%
(Reporting by Anuran Sadhu in Bengaluru)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))
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