JM Financial starts India's Shiprocket with "Buy" on scalable asset-light model tailwind
15/10/2026 06:15
BUZZ-JM Financial starts India's Shiprocket with "Buy" on scalable asset-light model tailwind ** Shiprocket SIPO.NS will benefit from higher transaction volumes without owning underlying logistics infrastructure as more brands sell online and existing merchants scale--JM Financial
** Brokerage initiates coverage with "buy" rating, TP at 165 rupees
** Co's emerging businesses extends beyond shipping into fulfillment, omnichannel, checkout, marketing and cross-border solutions, allowing it to participate more in a merchant’s operations--JM Financial
** However, brokerage takes cautious view on profitability, with emerging category seen loss-making through FY28 before turning profitable in FY29
** Shares down 3.8% at 129.41 rupees; YTD, down 8.4%
(Reporting by Saikeerthi in Bengaluru)
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