Eureka Forbes Shares Gain 2%: Know Why

On December 5, Eureka Forbes’ shares marked a 2% ascent, reaching Rs 535 per share, spurred by brokerage firm Nomura initiating ‘neutral’ coverage. Nomura has set a target price of Rs 568 per share, signaling a 6% potential increase from the current levels.

In the last month, Eureka Forbes’ stock witnessed a notable surge of over 7%, outpacing the 7% rise in the benchmark Sensex. Renowned as a leading provider of health and hygiene products in India, Eureka Forbes offers a diverse range of products, from water purifiers to vacuum cleaners.


Analysts at Nomura elucidated their ‘neutral’ rating, citing structural drivers such as increased electricity availability, growing access to piped water (now at approximately 69% of rural households as of September 2023, up from 19% in August 2019), and elevated levels of total dissolved solids (TDS) in water in many states, necessitating water purifiers. The analysts also emphasized that the current low penetration levels (around 8% of households) imply long-term growth visibility.

As of 12:52 pm, the shares were trading at ₹522.00.