Milky Mist Dairy Food receives first 'buy' rating on listing day; DAM Capital sees 25% upside
Key Takeaways
- •DAM Capital initiated coverage of Milky Mist Dairy Food with a buy rating and 25% upside potential.
- •The stock received its first buy call on the same day it began trading on the market.
- •DAM Capital described Milky Mist as India’s only pure-play value-added dairy company of scale.
- •Nearly 100% of the company’s portfolio is made up of value-added dairy products across more than 20 categories.
Milky Mist Dairy Food received its first 'buy' rating on the day its shares made their market debut, with DAM Capital initiating coverage of the stock and seeing 25% upside.
In its note, DAM Capital described Milky Mist as India's only pure-play value-added dairy company of scale. The brokerage highlighted that almost 100% of the company's portfolio consists of value-added dairy products (VADP), spanning more than 20 categories, including paneer, cheese, curd, yoghurt, butter, ghee and ice cream.
The initiation came as investors began trading the stock for the first time, placing fresh attention on how the company is positioned within India's dairy market. A coverage call on listing day can matter because it gives the market an early external assessment of a newly listed company’s business mix and product focus, especially when that mix is concentrated in branded, value-added items rather than commodity dairy.
Source: CNBC-TV18
