Aditya Birla Fashion Group Is The Most Organised Retail, With Its 3% Hike!
Post by Tuba Qureshi | Dec 18, 2018
Aditya Birla Fashion Rallied Nearly 3% And Claims To Be A Top Pick Among The Organized Retail Sector, Says Jefferies!
We know that Jefferies has greatly maintained its buy call on the stock with a set target price of Rs 234 per share which is implying to be 18% potential upside.
The investment firm said that the demand traction is been strong and is expected to continue. However, Jefferies cut EPS estimates by up to 6% for FY19 to the factor in the higher interest and depreciation.
According to the research house, “With its operations across segments and a wide retail network, it is appropriately placed, to benefit from India’s growing branded apparel industry”
Furthermore, the company’s revenue has grown up to 8.7% YoY, to Rs 1,910 crore in Q2FY19, in line with estimate. Whereas, segment-wise, Pantaloons' revenue growth was around 11 percent & Madura Lifestyle brands around 6 percent.
According to a report at 09:47 hours, “Aditya Birla Fashion & Retail was quoting at Rs 202.30, up Rs 3.20, or 1.61 percent.”
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