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Market Still Expects More Upside From Bikaji Foods

21 June 20243 mins read by Angel One
Bikaji Foods' stock surged 4% to a 52-week high, driven by positive evaluations projecting a 23% upside, with a focus on regional expansion and revenue growth.
Market Still Expects More Upside From Bikaji Foods
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Bikaji Foods has been making waves in the stock market, with its share price recently jumping by 4% to reach a new 52-week high and surging around 36% in a month. This rise is largely attributed to positive evaluations from several brokerage houses, which have assigned a “buy” rating to the stock, the bullish sentiment among analysts indicates that there is still substantial upside potential for Bikaji Foods.

Positive Outlook 

Brokerage houses have been optimistic about Bikaji Foods’ growth prospects. As per the reports, a 23% potential upside is foreseen in the company’s stock value, based on a thorough analysis of its market position, financial performance, and growth strategies. The company, known for its popular range of traditional snacks and sweets, has demonstrated strong revenue growth and an expanding market presence.

Brokerage Houses’ View 

Bikaji Foods targets key regions like Uttar Pradesh, Punjab, Haryana, Delhi, Karnataka, and Telangana for expansion. Additionally, it aims to increase frozen food revenue to Rs.200 crore in 3-4 years from Rs.30-33 crore. Bikaji anticipates outpacing the savory snack industry’s 18% CAGR from FY24 to FY27 and expects western snack sales to rise from 8% to 10-12%.

Analysts have highlighted Bikaji Foods’ efficient management and cost-control measures as significant contributors to its financial stability. These factors have led to an upward revision of the stock’s target price, with an anticipated 23% upside from its current levels.

Market Position and Expansion 

Bikaji Foods has established a strong foothold in the Indian snacks and sweets market, capitalizing on the increasing demand for traditional and regional delicacies, the company’s extensive distribution network, coupled with good marketing, has boosted its brand visibility and market penetration.

Furthermore, Bikaji Foods has been actively pursuing expansion plans, both domestically and internationally by enhancing its product portfolio and entering new markets, it is expected to drive its revenue growth in the coming years. 

Conclusion: The recent surge in Bikaji Foods’ share price, coupled with the positive outlook from brokerage houses, indicates that the market still expects more upside from this promising company. With its strong market position and expansion plans, Bikaji Foods seems well-positioned to capitalize on opportunities and deliver returns to its investors.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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