Phoenix Mills best play on India’s retail story- JM Financial

The Phoenix Mills

14/12/2023 05:05

** Indian real estate co Phoenix Mills  PHOE.NS  likely to
deliver higher earnings growth versus discretionary consumer
companies - JM Financial
    ** Co's earnings growth, margin profile outshine peers, JM 
analysts say
    ** Adds, co well-placed to benefit from growth in retail
industry, portfolio of brands best proxy to play across
discretionary spends of an average Indian consumer
    ** JM Financial maintains "buy" rating, raises TP to 2,520
rupees from 2,270 rupees
    ** Shares rise 3% to 2,282 rupees
    ** PHOE on track for fourth consecutive session of gains, if
trend holds
    ** Fifteen analysts covering the stock on average have "buy"
rating; median PT is 2,209.5 rupees - LSEG data
    ** Stock up 64% YTD, on track for third consecutive yearly
gain


 (Reporting by Ashna Teresa Britto)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))