India's Mrs. Bectors jump most in over 5 months as HDFC initiates with 'buy'

Mrs. Bectors Food Specialities

08/10/2021 08:57

** Indian biscuit maker's shares  MRSB.NS  surge as much as
7.3% to 439.90 rupees; set for biggest intraday jump in more
than 5 months
    ** HDFC Securities has initiated coverage on Mrs. Bectors
Food Specialities with a "buy" rating, and a price target of 492
rupees 
    ** The research firm expects Mrs. Bectors to benefit from 
strong recovery expected in the fast-growing foods services or
QSR business with public spaces opening up as COVID-19
restrictions are lifted
    ** Co's biscuits and bakery businesses are expected to show
strong revenue growth bolstered by initiatives like expansion of
distribution network, revamped marketing approach and new
product launches - HDFC Securities 
    ** One of the largest biscuit exporters in the country, Mrs.
Bectors is anticipated to have a long runaway for growth aided
by opportunities in the exports markets
    ** MRSB shares touch highest levels in nearly 3 months
    ** Including session's gains, MRSB stock down about 14% for
the year

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))