India's Wonderla Holidays shares rise; Ambit Capital bullish on firm

Wonderla Holidays

30/11/2023 09:58

** Shares of amusement parks and resorts operator Wonderla
Holidays  WOHL.NS  up as much as 3.5% to 987.4 rupees, their
highest since Nov. 21 
    ** Analysts at Ambit Capital see WOHL's increased digital
reach, higher partnership interest by states as key upsides 
    ** Faster-than-expected operational execution drives 8%
increase in FY25E revenue of co - Ambit 
    ** Adds favourable macro factors with increased propensity
to spend and co's better infrastructure drives bullish view on
co 
    ** Maintains "buy" rating, increases two-year direct cash
flow based PT by 5% to 1,350 rupees
    ** About 348,000 shares change hands, 1.4 times the 30-day
average
    ** Stock last up 3.1%, extending YTD gains to ~190% 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))