JM Financial initiates ‘Buy’ on this liquor stock. Check target, upside potential
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Shares of Tilaknagar Industries rallied as much as 3.3% to their day’s high of Rs 458 on Tuesday after domestic brokerage firm JM Financial initiated coverage with a Buy rating on the counter and a target price of Rs 550. The target implies an upside potential of 25% from current market levels. The company is among the top five spirit players in India and now a formidable player in two of the largest sub-segments of IMFL - whisky and brandy, which account for 65% and 20% of the industry, respectively. The company’s portfolio includes flagship brands such as Mansion House, a leader in brandy, and Imperial Blue, the second and third largest brands in the lower prestige and overall IMFL segment. Here are 4 reasons behind the bullish call 1.) Big bet on premiumisation - To extend its growth runway, TIL has focused on expanding its presence in the IMFL category, particularly in the large whisky segment and the fast-growing white spirits segmen...