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HDFC Securities Institutional Equities
Vishal Mega Mart has been initiated with a ‘Buy' rating by HDFC Securities Institutional Equities, citing its strong positioning as a diversified value retail player with a scalable, asset-light business model. The brokerage has set a target price of Rs 130, implying upside from the current market price of Rs 114.
HDFC Securities highlighted Vishal Mega Mart's balanced mix across apparel, fast moving consumer goods and general merchandise, with private labels contributing nearly three-fourths of revenue, supporting margins and value pricing.
The company's focus on tier-2 and smaller cities, strong same-store sales growth, and zero-debt balance sheet are expected to drive healthy earnings growth, with PAT projected to grow at a ~26% CAGR over FY26–28.
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