JM Financial Recommends Buying Go Fashion (India) with a Target Price of Rs 1385

JM Financial has issued a “buy” call on Go Fashion (India) Ltd., setting a target price of Rs 1385. Currently, Go Fashion (India) is trading at Rs 1281.2 in the market.

Go Fashion (India) Ltd., established in the year 2010, is a large-cap company operating in the apparels sector, with a market capitalization of Rs 6,908.83 Crore.

Key Products/Revenue Segments for Go Fashion (India) Ltd. include Garments and Scrap, for the fiscal year ending on March 31, 2023.

In terms of financials, for the quarter ending on June 30, 2023, the company reported a standalone total income of Rs 193.81 Crore. This reflects an increase of 20.98% from the total income of Rs 160.20 Crore in the previous quarter and a growth of 14.77% from the total income of Rs 168.87 Crore in the same quarter of the previous year. The company recorded a net profit after tax of Rs 26.28 Crore in the latest quarter.

As of June 30, 2023, the promoters held a 52.79% stake in the company, while foreign institutional investors (FIIs) owned 11.02%, and domestic institutional investors (DIIs) held 31.99%.

Investors may consider this “buy” call from JM Financial when evaluating their investment decisions. The target price of Rs 1385 suggests potential growth for Go Fashion (India) in the future. However, it’s important to conduct thorough research and consider your own financial goals and risk tolerance before making any investment decisions.

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