Baazar Style Retail up 5% in trade; JM Financial initiates 'Buy'; check TP

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Baazar Style Retail up 5% in trade; JM Financial initiates 'Buy'; check TP - Business Standard

Quick Summary:

Domestic brokerage JM Financial has initiated coverage on Baazar Style Retail with a 'Buy' call.

Additionally, the brokerage believes the company has high potential for store expansion on the back of strong unit economics.

Of this, the organised market was Rs 1.3 trillion and it is expected to grow at 17 per cent compound annual growth rate (CAGR) over FY24-27 (19 per cent over FY19-24) to Rs 2.1 trillion in FY27.