Aditya Birla Fashion Share Price Target 2024: BIG 17 PC Jump on Demerger Plans! Analysts Recommends ABFRL Trading Strategy
Aditya Birla Fashion Retail Share Price Target 2024, ABFRL Share Price NSE BSE Today News: Shares of Aditya Birla Fashion and Retail Ltd (ABFRL) on Tuesday jumped nearly 17 per cent after the company announced demerger of its fast fashion and retail business Madura Fashion & Lifestyle into a separate listed entity aiming to unlock opportunities for value creation. The stock climbed 16.86 per cent to Rs 247.40 on the BSE. At the NSE, it jumped 16.93 per cent to Rs 247.50. The counter settled 12 per cent higher on the BSE to end the trading at Rs 236.15, up 11.55 per cent. Shares of the company rallied 11.97 per cent to settle at Rs 237 on the NSE.
Aditya Birla Fashion Retail Share Price Target 2024
Morgan Stanley has ‘underweight rating on the stock with a price target of Rs 200.
Aditya Birla Fashion Demerger
The ABFRL board at its meeting held on Monday authorised the management of the company to evaluate the vertical demerger of Madura Fashion & Lifestyle business, according to a company statement. “The proposed demerger will enable the creation of two separately listed companies as independent growth engines with distinct capital structures and parallel value creation opportunities,” it said.
Moreover, after the completion of the proposed demerger, ABFRL “will raise growth capital within 12 months” to strengthen its balance sheet, and pursue the large growth opportunity, it added. The Madura Fashion & Lifestyle (MFL) business consists of four fast fashion brands – Louis Philippe, Van Heusen, Allen Solly and Peter England – along with casual wear brands viz. American Eagle and Forever 21.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of TN Network.)
