After a 20 percent jump in the previous session, shares of Mamaearth parent Honasa Consumer hit a new record high in intra-day deals on Friday on the back of strong September-quarter (Q2FY24) results and global brokerage Jefferies raising target price.
"Honasa should report industry-leading growth at 27% over the next 3 years. We value at 6x Sep-25 EV/sales (at a discount to HPC peers; implies 67x FY26 PE) to arrive at a price target of Rs 520," Jefferies said, while calling it a high conviction buy.