Domestic brokerage Kotak Institutional Equities has initiated coverage on Mamaearth’s parent company, Honasa Consumer with an ‘Add’ recommendation for a target price of Rs 450, an upside potential of 4% from the current levels. The brokerage states that it likes Honasa’s brand seeding/scaling and execution speed. A steady increase in repeat offtakes (conversion of experimentative … Read more
Shares of Honasa Consumer, which runs the Mamaearth brand of toxin-free products, on Thursday surged around 20% to touch a fresh peak of Rs 422.50 on BSE after the beauty and personal care products retailer reported 94% year-on-year (YoY) growth in Q2 profit. Driven by volume growth, Honasa’s quarterly revenue grew 21% YoY to Rs … Read more
The flat-to-muted listing of Mamaearth on Tuesday was in line with expectations as markets remained wary of high valuations of the company. The stock got listed at Rs 330 on NSE, up just 2% over the issue price. Post the debut, analysts advised investors to book profits notwithstanding the company’s strong brand presence in the … Read more