ICICI Securities Bullish On This Multibagger Stock, Raises Target Price

Given its multi-distribution channel approach and robust supply chain infrastructure, TCNS clothing has emerged as the market leader in women’s ethnic space through its three famous homegrown brands. TCNS Clothing share price has appreciated around 2.2 times, from Rs 400 in April last year to around Rs 885 apiece in November 2021.

Brokerage and research firm ICICI Securities has a buy recommendation on the multi-bagger stock with a target price (TP) of Rs 1,120 per share (raised from earlier TP of Rs 860) with a time frame of around twelve months.

Healthy store addition pipeline for FY22 with the opening of 60+ new stores on a net basis, continue to scale-up of its Omni distribution channel with new business models through third party market place and creating ‘online-first product ranges, setting up a new integrated warehouse and higher focus on expanding network in tier III/IV cities mainly through franchisee led model to act as critical triggers for future price performance, as per the brokerage.

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