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Buy V-Mart: target of Rs 3465: ICICI Direct

ICICI Direct is bullish on V-Mart has recommended buy rating on the stock with a target price of Rs 3465 in its research report dated August 09, 2022.

August 10, 2022 / 12:07 PM IST
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ICICI Direct's research report on V-Mart

V-Mart, having over the years built its fortress in non-tier I cities, is well poised to capture market share in the growing ~Rs 2.5 trillion value fashion industry. The company enjoys strong moats that would provide it an edge over increasing competition in tier III-IV regions. V-Mart follows a cluster based approach of adding stores within a radius of 50-100 km. This gives it better economies of scales, supply chain efficiencies and better understanding of fashion needs of the specific region.


We maintain BUY recommendation on the stock with a revised target price. We value V-Mart at Rs 3465 i.e. 16x FY24E EV/EBITDA.


For all recommendations report, click here

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V-Mart - 090822 - ic

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first published: Aug 10, 2022 12:07 pm
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