ICICI Securities Recommends 'BUY' on Bajaj Consumer Care, Sets Rs 450 Target
Business
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Moneycontrol•23-01-2026, 14:38
ICICI Securities Recommends 'BUY' on Bajaj Consumer Care, Sets Rs 450 Target
- •ICICI Securities maintains a 'BUY' rating for Bajaj Consumer Care, raising its target price to INR 450 from INR 400.
- •Q3FY26 showed positive earnings surprise due to GST transition, improved distribution, and channel productivity.
- •Growth was broad-based across the portfolio and channels, with ADHO performing well and Banjara stable post-integration.
- •Operating leverage helped convert volume recovery into stronger earnings growth, with sustainable margin expansion despite brand investments.
- •Aarohan's reach expansion is complete, shifting focus to productivity, enhancing earnings quality and growth durability.
Why It Matters: ICICI Securities recommends buying Bajaj Consumer Care, citing strong Q3FY26 performance and improved outlook.
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