India's Stove Kraft gains after Emkay lifts target price on demand revival
23/06/2026 08:17
BUZZ-India's Stove Kraft gains after Emkay lifts target price on demand revival ** Shares of India's Stove Kraft STOE.NS rise as much as 2.78% to 754.70 rupees, their highest levels since February 12, 2025
** Stock last up 1.91% at 750 rupees
** Emkay Financial ("buy") raises target price to 900 rupees from 700 rupees
** Expects revenue and EBITDA to grow at CAGR of 18% and 24%respectively, over FY26-28
** Sees export growth driven by supplies to IKEA, new business from Walmart
** Expects margins to expand by about 100 bps by FY28 and return ratios to improve to above 15% from about 10% over the past 2-3 years
** YTD stock up 30.42%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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