- BROKERAGE: CLSA Price
- Target: Rs 2,970 CMP: Rs 2,270.05
- Upside: 30.8%
Stock at only 5% above conservative valuation after recent fall; bargain buy Assumes no value for new energy biz; same equity valuation for Jio/retail at which PEs invested in 2020 Ramp-up of FMCG business, the launch of Airfi ber and new affordable 5G smartphone triggers in FY24.
Opened 11th mall in Ahmedabad in Feb; On track to open Pune and Bengaluru malls in Q1FY24 Healthy pre-leasing of upcoming malls provides strong near-term visibility on rental growth Strong consumption momentum across malls; bettering pre-Covid consumption run-rate by 10-40%.
- BROKERAGE: CLSA
- Price Target: Rs 475 CMP: Rs 340.85
- Upside: 39.3%
Well placed to benefit from the consumer shift to low-alcohol beverages — beer and wine. Expected to see highest revenue & EP) compounded growth over FY22-25 vs alcohol companies. Change in wine incentive schemes poses a key regulatory risk for the company.