Orkla India Shares Soar on ICICI Securities 'Buy' Rating, 30% Upside Predicted

• Orkla India shares rose after ICICI Securities initiated coverage with a 'Buy' rating, setting a price target of Rs 800, indicating a 30% upside.
• The brokerage highlights Orkla India's dominant market position in southern India via MTR and Eastern brands, alongside an expanding distribution network.
• Exports contribute 21% of revenue, making Orkla India the largest branded spice exporter globally, present in over 40 countries.
• ICICI Securities anticipates 12% CAGR in exports (FY25-FY28) and expects margin expansion and stronger cash flow from operational efficiencies.
• JPMorgan also initiated coverage with an 'Overweight' rating and a Rs 745 price target; Q2 net profit declined, but revenue grew.

Why It Matters: Brokerage 'Buy' ratings and strong fundamentals drive Orkla India's stock surge despite Q2 profit dip.