ICICI Securities has reduced Allied Blenders share price target to ₹520 from ₹540 earlier. The new target price implies upside potential of 14.13 per cent from current levels
JM Financial noted Allied Blenders' rising presence in premium IMFL via its Maestro launches and improving profitability
The buying on the counter came after the company's subsidiary, ABD Maestro, announced a strategic collaboration with Ospree Duty Free
Raw material costs will remain supportive for spirits players, with prices of ENA (extra neutral alcohol) and glass expected to stay benign
Allied Blenders plans to invest Rs 547 crore to strengthen backward integration, expand globally, and grow its premium and luxury portfolio, aiming for higher margins and sustainable growth
Liquor stocks in focus: Radico Khaitan sees substantial long-term opportunity in premium and luxury brands owing to rising affluence, evolving preference, and rising demand for elevated experiences.
The demand on the counter came after the company's subsidiary, ABD Maestro's portfolio, secured accolades for three brands
Jefferies has a target price of ₹2,800 per share for Radico Khaitan, ₹1,315 for United Spirits, and ₹620 for Allied Blenders