Stovekraft’s stock surged by 4.32% to ₹908.95 on the NSE at 9:20 AM after Emkay Global initiated a ‘Buy’ rating with a target price of ₹1350. The brokerage firm highlighted Stovekraft’s significant growth ahead of its peers, driven by the company’s cost leadership, innovative product offerings, and expanding distribution channels, including e-commerce and modern retail.
Emkay also noted Stovekraft’s leadership in high-growth categories and its strong export positioning, including being a key supplier to Walmart. With the mass-consumer demand cycle expected to recover and Stovekraft’s manufacturing capabilities enhanced, the company is projected to achieve a 15% revenue and 33% EPS compound annual growth rate (CAGR) from FY24 to FY27.
The stock’s rally reflects positive investor sentiment following Emkay’s outlook, which also highlighted the company’s attractive valuation at 13x EV/EBITDA for September 2026 estimates, a 46% discount to competitor TTK Prestige.
