Milky Mist Dairy rises 5%; Nuvama starts coverage with Buy, ₹330 target
In short
Milky Mist Dairy Food shares rose 5% to ₹298.75. The stock is now 113% above its IPO price, and Nuvama started coverage with a Buy call and a ₹330 target.
This matters because the stock has already run up a lot, but the brokerage still sees more upside. The report also says there are risks from customer concentration and milk prices.
What the reporting says
Milky Mist Dairy Food shares rose 5% to ₹298.75, taking the stock to 113% above its IPO price, and Nuvama initiated coverage with a Buy rating and a ₹330 target. The brokerage cited growth in value-added dairy, expansion beyond South India and improving cash flows, while warning about concentration and milk-price risks. The reporting does not say when the IPO happened or how long the target may take to play out.
Why it matters
Milky Mist Dairy Food shares gained 5% to ₹298.75, leaving them 113% above the IPO price. Nuvama initiated coverage with a Buy rating and a ₹330 target, saying the company could benefit from growth in value-added dairy, expansion beyond South India and better cash generation. The note also flagged concentration risk and milk-price volatility, but the reporting does not give a timeline for the target.