Brokerage HDFC starts coverage on India's Vishal Mega Mart with "buy"; shares rise

Vishal Mega Mart

15/04/2026 05:07

** Brokerage HDFC Securities initiates coverage on India's Vishal Mega Mart VSSL.NS with "buy" rating, sets PT at 130 rupees

** Shares of VSSL rise nearly 2% to 116 rupees, set for third straight session of gains

** HDFC says co a well-diversified value retail play

** Co a dominant tier 2+ player with a vast store opportunity- HDFC Securities

** Driven by its diversified mix, co uses high-frequency

FMCG as a hook to drive daily footfalls, effectively cross-selling captive shoppers into its higher-margin apparel and GM categories- HDFC

** We project ~18/21% revenue/EBITDA CAGR over FY26-28- HDFC

** VSSL rated "buy" on avg by 16 analysts covering it; median PT at 161 rupees- data compiled by LSEG

** YTD, VSSL down ~15%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))