Mamaearth parent Honasa Consumer shares climb as Jefferies sees 46% potential upside

The company's skincare brand Derna Co. has reportedly achieved a key milestone of Rs 500 crore annual revenue rate (ARR) which is commendable.

The brokerage also accolades the management focus & agility along with a growth mindset where growth is prioritized over profitability.

Shares of Mamaearth parent company Honasa Consumer rallied for the second consecutive session in trade on April 23 as global brokerage Jefferies maintained 'buy' on the stock with a target of Rs 590, a strong potential upside of 46 per cent. At the day's high, the stock after climbing 4 per cent hit levels of Rs 420.35 per share on the BSE.

After a boost in the pre-opening trade, shares of the company.

The company's skincare brand Derna Co. has reportedly achieved a key milestone of Rs 500 crore annual revenue rate (ARR) which is commendable.

Active ingredient-based products are seeing strong traction in India & Honasa spotted the trend ahead of peers, noted the brokerage.

It now leads with a bouquet of products across key brands, Jefferies further added. The brokerage also accolades the management focus & agility along with a growth mindset where growth is prioritized over profitability.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.