Vedant Fashions faces rating cuts after Q1 nos on punchy valuations

Punchy valuations drive our downgrade to sell, said Kotak Institutional Equities, which has a target of Rs 1,075 for the stock from Rs 1,000 earlier. This is even as the brokerage has raised its FY2023-25E EPS estimates by 5-10 per cent on account of strong momentum in wedding demand and higher margin forecasts.Edelweiss has downgraded Vedant Fashions

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