DOMS Industries witnessed a significant surge on Monday, reaching a record high of ₹2,367.50 per share on the BSE. This rally marks the seventh consecutive day of gains, with the stock rising over 10% in just one week following a ‘Buy’ rating initiation by Axis Securities.
Axis Securities has set a price target of ₹2,670 per share for DOMS Industries, indicating an 18% upside from Friday’s closing price. The brokerage firm cited DOMS’ strong performance over several quarters, driven by expansion into under-penetrated markets, new product development, and capacity expansion.
The report highlights DOMS’ strategic move into the bags and toys segments, which is expected to further bolster growth. Axis Securities forecasts robust revenue, EBITDA, and net profit growth of 25%, 26%, and 28% CAGR respectively from FY 2024 to FY 2027, projecting an improvement in the company’s return on capital employed (ROCE) from 22% to 25% over the same period.
Since its IPO debut in December 2023 at ₹1,400 per share, a 77.2% premium over its issue price, DOMS Industries’ stock has surged more than 69% from its listing price and nearly 200% from its issue price.
As of 10:50 am, DOMS Industries shares were trading 2.58% higher at ₹2,312.10 apiece on the BSE.
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