Domestic brokerage JM Financial, which initiated coverage on the stock with a Buy rating, values the stock at 4x Sep’24e P/BV to arrive at a target price of Rs 400. This signals an upside potential of up to 32 per cent.
Stock markets now seem to have digested the uncertainty related to global tariff wars on hopes of lesser disruption and trade agreements by major economies.
A promoter of Gravita India on Friday divested a 3.4 per cent stake in the company for Rs 498 crore through an open market transaction.
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