Jefferies maintained a buy rating on Honasa Consumer with a target price of Rs 530. “Honasa is still evolving in its offline journey and will make mistakes in the online. Given the online mix, pushing inventory may not yield much, based on our calculation,” said the note.
The company had clocked a loss of Rs 20 crore in the year-ago period. Its total income rose to Rs 830.9 crore from Rs 781.6
The regulator imposed this restriction as a temporary measure after discovering that Axis Capital had essentially guaranteed the redemption of NCDs under the pretence of
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