Citi has maintained its Sell rating on Page Industries, increasing its target price to ₹35,800 from ₹33,100, reflecting a potential downside of 20.7% from the current market price of ₹45,150. The brokerage highlighted that while cost-control measures led to 21% growth in EBITDA and 30% growth in PAT year-on-year, the 6.7% volume growth fell short of its estimate of 8%. Citi remains cautious due to the lack of significant improvement in consumer sentiment and a lack of near-term catalysts, despite a 4-7% increase in EPS estimates for FY25-27.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before making any investment decisions.
