FMEG to drive Bajaj Electricals’ turnaround story: Morgan Stanley
The firm said these factors along with improving margins in the FMEG business should drive overall EBITDA margins to improve 350 basis points to 10.4 per cent in FY24.
Synopsis
The financial services company said Bajaj Electricals has posted strong revenue growth in the fast-moving consumer electricals business and sharp improvement in margin should drive higher return ratios, said Morgan Stanley.
Mumbai: Morgan Stanley (MS) has initiated coverage on Bajaj Electricals with an overweight rating and a target price of Rs 1,479 as it sees the company as a turnaround story.
Shares of Bajaj Electricals ended up 3.27 per cent at Rs 1,176.25 on Tuesday. The stock has gained 225 per cent in the last year.
The financial services company said Bajaj Electricals has posted strong revenue growth in the fast-moving consumer electricals business and
