India's P N Gadgil jumps after Motilal Oswal starts with 'buy'

P N Gadgil Jewellers

09/12/2024 07:17

** Shares of P N Gadgil Jewellers  PNGD.NS  rise 5.2% to
809.25 rupees
    ** Motilal Oswal initiates coverage on jewelry retailer with
"buy", PT of 950 rupees
    ** Motilal Oswal is the first brokerage to initiate coverage
on PNGD, as per data compiled by LSEG
    ** PNGD among few jewelry firms in India to rapidly expand
store presence, says Motilal Oswal; expects around 30% store
growth over FY24-27
    ** PNGD's enhanced digital presence to improve customer base
and boost sales with minimal investment, brokerage says
    ** Stock has gained 2.2% since trading debut in September

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))