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
Buoyed by positive investor sentiment and listing gains, more companies have shown their appetite to raise funds through the primary market in FY24 compared to the previous year. About 76 companies accessed the public markets in FY24, raising nearly Rs 62,000 crore through mainboard IPOs. This is 19% higher than the Rs 52,116 crore mobilized … Read more
Brokerage firm Macquarie has a neutral rating on Maruti Suzuki, Axis Capital downgraded ABB India to reduce, CLSA has an underperform rating on Asian Paints and Citigroup initiated a buy on Honasa Consumer (Mamaearth). We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on Honasa Consumer: Buy| … Read more
Ramanpreet Sohi, CFO, Honasa Consumer, says “as a business and household brand, all our brands play in the mass premium, masstige categories. And this space is expected to grow at almost twice that of the mass segments in the country. Given that and how the whole online offline ecosystem is evolving, we are fairly uniquely … 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
Against this backdrop, Dr Reddy endorsed Indian Council of Medical Research chief Dr Balaram Bhargav’s stand that vaccine coverage should target 60-70% of the population. Testing for presence of Covid-19 antibodies to determine whether a person should be prioritised for receiving the vaccine once this becomes available—the presence of antibodies, some have suggested, should push … Read more