India's V2 Retail hits record high; Nuvama hikes TP on upbeat outlook

V2 Retail

04/10/2024 08:17

** Shares of V2 Retail  VREL.NS  rise as much as 3.8% to a
record high of 1,430 rupees
    ** Co said on Wednesday its Q2 rev from ops was up 64% YoY;
same store sales growth (SSSG) grew 34% QoQ
    ** Brokerage Nuvama upgrades co's FY25 store addition and
SSSG target to 50% and 20% each, from 45 and 15% earlier
    ** Nuvama reiterates "buy" rating on stock, hikes TP to
1,754 rupees from 1,352 rupees earlier
    ** Stock eyes fifth straight session of gains; up 10% so far
this week


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com))