India's Epack Durable jumps after ICICI Securities starts with 'buy'

Epack Durable

26/12/2024 08:32

** Epack Durable  EPAC.NS  climbs 4.2% to 497.7 rupees
    ** Brokerage ICICI Securities starts with "buy"; sets TP of
555 rupees - 16.2% premium to Tuesday's close
    ** Says home appliances maker's room air conditioners (RAC)
segment posed for robust growth; strong capacity additions will
help co capitalise on demand tailwinds
    ** Adds EPAC's entry into small and large domestic
appliances will lead to higher margins and buck seasonality-led
impact in RAC segment's profitability
    ** Expects 52.2% CAGR over FY24-27
    ** Stock sees most active session in over a month, with
volumes at 2.5x the 30-day avg
    ** EPAC up 125% since listing on Jan. 30

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))