Jefferies has reiterated its buy rating on Vishal Mega Mart and increased the target price to ₹175 from ₹142, noting continued strength in same-store sales growth and expansion into new geographies. The retailer reported double-digit same-store sales growth for the fifth consecutive quarter, supported by healthy footfalls and store additions.
The brokerage also pointed to Vishal Mega Mart’s foray into new states as a sign of its growth ambitions, with momentum in store additions complementing its geographic diversification strategy. In addition, the company’s quick-commerce platform, though still a small part of the business, is scaling up steadily. Jefferies said the outlook for Vishal Mega Mart remains positive given its execution track record, growth in own brands, and improving retail footprint.
Disclaimer: The views and recommendations made in this article are those of Jefferies. This article does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions.
