Honasa downgraded to ‘Sell’ as shares plunge 20% amid Q2 weakness

November 18, 2024

Emkay Global downgraded Honasa Consumer, the parent company of Mamaearth, to ‘SELL’ from ‘BUY’ and slashed its target price by 50% to Rs 300 after the company reported its first quarterly loss in five quarters due to weak demand and distribution challenges.

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