Page Industries shares edged higher on Friday after plunging nearly 13 percent in the previous session, as brokerages retained their bullish outlook on the stock despite weaker-than-expected fiscal second quarter earnings. HSBC and Nomura maintained their Buy ratings, citing expectations of a recovery in volume growth during the second half of FY27, although concerns remain over the company's growth trajectory and a regulatory violation.
Page Industries shares were trading 0.5 percent higher at Rs 32,000 apiece in early trade, following Thursday's 12.9 percent decline. The stock has lost 10.5 percent so far in 2026, underperforming the benchmark Nifty 50, which has fallen around 4 percent during the same period. The company's market capitalisation stood at approximately Rs 35,600 crore.
Page Industries stock outlook: HSBC cuts target but retains Buy rating
HSBC maintained its Buy rating on Page Industries but reduced its target price to Rs 43,870 per share, implying an upside of approximately 38 percent from the previous close. The brokerage highlighted that Page Industries' volume growth slowed to 5.5 percent in Q2 FY27, significantly below its estimate of 10 percent. However, it attributed part of the weakness to the shift in the festive calendar.
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