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Hold Navneet Education; target of Rs 95: ICICI Direct

ICICI Direct recommended hold rating on Navneet Education with a target price of Rs 95 in its research report dated May 25, 2022.

May 30, 2022 / 04:36 PM IST
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ICICI Direct's research report on Navneet Education

Navneet Education (NEL) is an educational syllabus based content provider in print and digital medium and a manufacturer of scholastic paper stationery for domestic and international markets. Over the years, the company has built a strong brand in educational content & scholastic stationery • In state boards of Maharashtra and Gujarat, the company has a market share of 65%. It has also entered into CBSE syllabus books in other states.


NEL has a dominant share in state board in Maharashtra and Gujarat. Its efforts to be a pan-India player with enhanced scale in CBSE board and digital initiatives would take time to meaningfully contribute to profits • We change our recommendation on the stock from BUY to HOLD. We value NEL at Rs 95 i.e. 9x FY24E EPS.


For all recommendations report, click here

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first published: May 30, 2022 04:36 pm
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