Motilal, Ambit start coverage of India's Urban Company

Urban

24/03/2026 05:20

** Urban Company URBN.NS rises as much as ~2.6% to 112.95 rupees; last up 1%

** Motilal Oswal starts with "neutral", implying 15% upside

** Says co poised to benefit from rising urbanisation, improving incomes, but warns valuations are pricey

** Ambit Institutional Equities starts with "sell"

** Says co unlikely to meet EBITDA growth target of 10 bln rupees ($106.6 mln) by FY31 due to higher Instahelp discounting, limited expansion outside top eight cities

** Stock rated "hold" on avg; median PT is 125 rupees, per data compiled by LSEG

** URBN up 9.7% from issue price of 103 rupees; listed on September 17, 2025

($1 = 93.8380 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))