IIFL Securities Stock Idea: Buy Honasa Consumer with Target Rs 480

IIFL Securities has issued a 'buy' recommendation for Honasa Consumer, with a target price of Rs 480. The current market price of Honasa Consumer stands at Rs 466.05. This rating indicates IIFL's positive outlook on the company's prospects and suggests that investors may consider buying its shares for potential gains.

About Honasa Consumer:

Honasa Consumer Limited (HCL) is a consumer-focused company listed on the National Stock Exchange of India (NSE). Established in 2003, HCL primarily manufactures and markets soaps, detergents, and other personal care products under the brand names "Nirma," "Rupa," and "Nima." The company has a strong distribution network across India and exports its products to several countries. HCL has a significant market share in the fast-moving consumer goods (FMCG) industry, particularly in the low-income segment. The company is known for its affordable pricing strategy and leverages its economies of scale to maintain competitive margins.

52 Week Price Trend:

Honasa Consumer Products, with a current market price of Rs 466.05, has experienced significant price fluctuations over the past year. Its 52-week high of Rs 511 reflects a potential upside of around 9.6%, while the 52-week low of Rs 256.1 indicates a potential downside of approximately 46.8%. This wide range suggests that the stock's price is susceptible to volatility and investors should carefully consider their risk tolerance before making any investment decisions.

Stratzy's MOST Analysis:

HONASA has been rated BB- by Stratzy's MOST framework, indicating Medium Fundamental Risks. This assessment is based on the company's overall performance in terms of Management, Outlook, Safety, and Trend. The BB- rating suggests that HONASA has some areas of strength, but also has some concerns that need to be addressed. Investors should carefully consider the potential risks before making investment decisions.

Fundamental and Technical information provided in this blog were last updated on 04 Jul, 2024

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