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BOBCapital sets BUY targets for Shanti Gold and upgraded Sky Gold
BOBCapital projects 56% upside to ₹474 for Shanti Gold and about 30% upside to ₹1,068 for Sky Gold, citing manufacturing scale and rising outsourcing of jewellery production.
LiveMint Markets, citing BOBCapital Markets, says India's organised jewellery manufacturing industry is seeing retailers outsource production to specialised B2B manufacturers, creating longer-term opportunities for firms such as Shanti Gold International and Sky Gold & Diamonds.
BOBCapital initiated coverage on Shanti Gold with a BUY rating and upgraded Sky Gold to BUY, pointing to growth potential, manufacturing scale, and increasing participation in the organised jewellery ecosystem.
For Shanti Gold, the brokerage set a target price of ₹474 versus a market price of ₹304, implying 56% upside. For Sky Gold, it set a target of ₹1,068 versus ₹824.75, implying about 30% upside.
BOBCapital also said Shanti Gold is entering a key growth phase supported by capacity additions, expanding customer relationships, and rising outsourcing opportunities, including the ramp-up of its Marol facility.
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