Cello World: Cello World Stock Price Target 2024: Stock Trading Below IPO Listing Price – BUY, SELL or HOLD? Brokerage suggests

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Cello World Stock Price Target 2024: Stock Trading Below IPO Listing Price – BUY, SELL or HOLD? Brokerage suggests

Cello World Share Price target 2024: Shares in the household goods company Cello world was listed on the stock exchanges on November 6, 2023 at a premium. The stock was listed on the NSE at a price of Rs 829 per share, 27.9 per cent higher than the issue price of Rs 648, and on the BSE, Cello World shares were trading at a price of Rs 831.

Nearly two months after its D Street debut, Cello World shares are trading below their list price, leaving investors confused about what to do with the stock. Should they buy more, sell or keep what they have? ICICI Securities has issued a notice on Cello World shares.

Cello world Stock price target 2024

The brokerage firm believes that the company has unique consumer behavior and strong competitive advantages. According to ICICI Securities, the industry growth is expected to be over 10 per cent CAGR in FY23-27, adding that a multi-pronged strategy – expansion of distribution, steady introduction of differentiated products – can benefit from this.

Furthermore, the brokerage sees a tailwind for margins in the near future with a correction in crude oil prices. However, it has initiated a buy rating on Cello World shares with a price target of Rs 920.

Cello World shares opened at Rs 797.70 apiece on the BSE on Monday, 1st trading day of 2024, and were trading at Rs at 10:07 am. According to BSE Analytics, the shares delivered a negative return of 0.94 per cent in the last month.

Meanwhile, the company posted revenue of Rs 961 crore, EBITDA of Rs 244 crore and PAT of Rs 169 crore in H1FY24. Cello World's EBITDA margins were a healthy 25.4 percent, as announced in November.

(Disclaimer: The above article is for informational purposes only and should not be considered as investment advice. ET NOW DIGITAL recommends its readers/audience to consult their financial advisors before making any money-related decisions.)