Shares of Electronics Mart India Ltd (EMART) have declined 8.3% over the past month, currently trading at ₹139.94, as investors turned cautious amid muted retail sector sentiment. Despite the decline, brokerage Nuvama has maintained its ‘Buy’ rating on the stock with a target price of ₹164 per share, indicating a potential upside of over 17% from current levels.
Nuvama’s bullish stance stems from EMART’s consistent revenue growth, strong regional dominance, and expansion strategy in high-demand urban markets. The brokerage believes the company’s solid operating margins and growing online presence position it well for long-term growth, even amid short-term fluctuations.
Analysts suggest that the stock’s recent correction could present a buying opportunity for investors with a medium- to long-term horizon, especially as EMART continues to scale its presence across Tier 1 and Tier 2 cities through new store openings and franchise additions.
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