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HomeNewsBusinessMarketsAmber Ent share price skyrockets to fresh record high as Jefferies sees 19% upside potential

Amber Ent share price skyrockets to fresh record high as Jefferies sees 19% upside potential

The household appliances company's stock has been gaining for the last two days and has risen 16.64 percent in the period.

September 23, 2024 / 15:40 IST
Amber Enterprises has a healthy order book of Rs 2,070 crore in mobility with long-term prospects in tact. The imposition of anti-dumping duty to aid electronics industry, Jefferies noted.
     
     
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    Amber Enterprises' share price hit a new 52-week and an all-time high in September 23 trade after analysts at global brokerage Jefferies maintained 'Buy' rating on the stock, seeing 19 percent upside potential.

    Amber stock touched a fresh all-time high of Rs 5,177.95 per share on the BSE, up 18.86 percent in Monday's trading session. The household appliances company's stock has been gaining for the last two days and has risen 16.64 percent in the period.

    A total of 26.85 lakh shares changed hands today of Amber Ent. The company has a market cap of Rs 17,015.34 crore, as per NSE website.

    Amber Ent share price target

    The global brokerage in its latest report maintained a Buy call on the stock with a share price target of Rs 5,200 per share, seeing 19 percent upside potential.

    The company has a healthy order book of Rs 2,070 crore in mobility with long-term prospects intact. The imposition of anti-dumping duty will likely aid the electronics industry, the report noted.

    It further noted, "normalised capex of Rs 370 crore in FY25 will aid ROCE of 20 percent by FY26 while the domestic AC industry is likely to drive over 30% YoY volumes in FY25."

    Amber Enterprises shares have delivered multibagger return of 122.20 percent in the last two years, as per data available on the BSE. It moved higher by 59.05 percent in 2024 so far.

    The stock settled at Rs 4,920 per share on the BSE, up 13.21 percent.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Paras Bisht
    first published: Sep 23, 2024 03:29 pm

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