India's Pine Labs jumps after J.P.Morgan initiates coverage with 'neutral'

Pine Labs

08/04/2026 07:38

April 8 (Reuters) - ** Shares of Pine Labs PINL.NS jump almost 9.5% to 171.36 rupees

** J.P.Morgan initiates coverage with "neutral", PT of 165 rupees

** Cites large and growing total addressable market, expects revenues to grow at 17% CAGR over FY26-28

** Adds, co's core profit driver likely to shift from device-led growth to value-added services, as card and affordability adoption rises in the premium-end of retail market

** Trading volume at 1.37 mln shares, vs 30-day average of 1.28 mln

** PINL rated "hold" on average by five analysts, median PT: 255 rupees - data compiled by LSEG

** YTD, stock down about 28%

(Reporting by Bipasha Dey in Bengaluru)

((Bipasha.Dey@thomsonreuters.com;))