India's Physicswallah rises after HSBC initiates with 'buy'

Physicswallah

11/05/2026 09:32

** Shares PhysicsWallah PHYS.NS  up about 2.5% at 111.12 rupees after HSBC initiates coverage with "buy" rating, TP:135 rupees

** Brokerage says strong demand for academic credentials and India's competitive exam culture continue to support long-term growth for education tech co

** Expects co's adjusted EBITDA to grow at more than 60% CAGR between FY26 and FY30, aided by operating leverage and expansion in offline business

** Adds execution will remain key in India's fragmented education market, as co scales offline presence

** PHYS rated "buy" on average by 6 analysts, median PT at 130 rupees - LSEG-compiled data

** YTD, stock down about 18.3%

(Reporting by Surbhi Misra in Bengaluru)

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