Vishal Mega Mart Share: Vishal Mega Mart shares saw a great rise of 8.76 percent on February 4 today. This stock has closed at Rs 125.45 on BSE. This is the sixth consecutive day when the company’s shares have closed on the green mark. During this time, there has been a tremendous rally of about 26 percent in the stock. The stock today touched its new 52-vende high of Rs 126.85. Its 52-vende is Rs 96.71. With today’s boom, the company’s market cap has increased to Rs 56,561 crore.
59 percent above IPO price
Vishal Mega Mart’s stock was listed in December last year. It is now about 59 percent above its IPO price ₹ 79 per share. After the income tax relief announced by Finance Minister Nirmala Sitharaman on 1 February, the huge mega mart is also expected to benefit from the surge in the conjunction.
Brokerage opinion and target price on Vishal Mega Mart
Brokerage firm Elar Securities has repeated its “Buy” rating on the stock with a target price of ₹ 140. The brokerage firm said that he likes the huge mega mart because its strong pan-India store expansion potential, strong category mix, which is primarily based on clothes and general merchandise, and more of private labels. Apart from this, the company’s cash rich balance sheet is also strong.
Elara hopes that in the financial year 2024-2027, the net profit of Vishal Mega Mart will grow from 27.5% CAGR due to the increase in store expansion and bean-store sales. The slow pace from the expectation of store expansion and the decrease in bean-store sales are the major risk for Elar’s notion. On 27 January, brokerage firm Morgan Stanley released a “overweight” rating on Vishal Mega Mart shares and launched coverage with a target price of ₹ 161.
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