ICICI Securities raises Shadowfax target to ₹330
In short
ICICI Securities lifted its Shadowfax target price to ₹330 from ₹280 and kept an Add rating. It did this after the shares rose 137% from the IPO price.
The broker thinks express parcels and hyperlocal deliveries can help revenue and margins. It also warned that pricing pressure and inflation could hurt the business.
What the reporting says
ICICI Securities raised its target price on Shadowfax Technologies to ₹330 from ₹280 and kept an Add rating after the shares climbed 137% from their IPO. The note cited expected growth in express parcels and hyperlocal deliveries as support for revenue and margin gains, while warning that pricing pressure and inflation remain risks. The immediate implication is a more bullish broker view, but the actual post-IPO share price is not stated.
Why it matters
ICICI Securities turned more positive on Shadowfax Technologies by raising its target price to ₹330 from ₹280 after the shares climbed 137% from the IPO. The brokerage expects growth in express parcels and hyperlocal deliveries to support revenue and margins. It also flagged pricing pressure and inflation as risks, which could matter for investors assessing the stock’s post-listing run.