Ambit calls time on Goldilocks: buy Trent, Titan, Nykaa, VMM; sell DMart, Lenskart, Page, ABFRL
Ambit flags FY27 demand moderation and margin pressure across Indian consumer. Top picks: Trent (TP Rs 5,020), Titan (Rs 5,257), Nykaa (Rs 314), Vishal Mega Mart (Rs 137). Sell DMart (Rs 3,618), Lenskart (Rs 437), Page. ABFRL target cut 25%, QSR names Jubilant cut 15-17%.
What happened
Ambit calls end of India's Goldilocks phase, expects FY27 demand moderation and margin pressure. Prefers Trent, Titan, Nykaa, VMM among large-caps; sells DMart,
Key facts
- Titan TP Rs 5,257
- Trent TP Rs 5,020
- Nykaa TP Rs 314
- VMM TP Rs 137
- DMart TP Rs 3,618 sell
- Lenskart TP Rs 437 sell
- ABFRL TP cut 25%
- Jubilant TP cut 15-17%
Why this matters
A 25% ABFRL cut and 15-17% trims on QSR names signal multiple compression in apparel and food services, opening a window to revisit acquisition targets in those subsectors at more rational entry valuations.