India's Wakefit Innovations rises as Axis Capital initiates with 'buy'

By Reuters News

** Shares of India's Wakefit Innovations WAKE.NS rise as much as 5.8% to 141 rupees

** Axis Capital initiates coverage with "buy" rating and TP of 200 rupees, implying about 50% upside from brokerage's reference price of 133 rupees

** Brokerage expects company to benefit from growing demand for home furnishings, expansion of organised retail and its diversified portfolio spanning mattresses, furniture and decor

** Forecasts revenue CAGR of about 18% and EBITDA CAGR of 30% over FY26-FY29, driven by store additions, category expansion and improving sales mix

** Flags intense competition, raw material price volatility and execution of large-format stores as key risks

** Says company's strong net-cash position provides flexibility to fund expansion, while improving cash generation should support growth

** YTD, Wakefit stock down 26.65%

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