Go Fashion (India) gains after domestic research firm initiates coverage

Go Fashion (India) rose 1% to Rs 1186 after a domestic equity research firm initiated coverage on the stock with "long" call and a target price of Rs 1,493 per share.

The target price implies about 26% upside from the current levels. The research firm reportedly stated that Go Fashion (India) is set to grow at a 12% CAGR over FY20-FY25. The company's average ROE/RoCE is expected to touch 20%/25% in FY25 led by multiple levers.

Go Fashion (India) is engaged in the development, design, sourcing, marketing and retailing a range of women's bottom-wear products under the brand, 'Go Colors'. Total exclusive business outlets (EBOs) as on 30 June 2022 stood at 533 stores.

 

Net profit of Go Fashion (India) rose 3.55% to Rs 19.27 crore on 47.89% increase in net sales to Rs 165.75 crore in Q2 September 2022 over Q2 September 2021.

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