Angel Broking initiates buy on Hawkins Cookers, target price Rs 4,353

Angel Broking has initiated coverage on Hawkins Cookers with a target price of Rs 4,353. The brokerage expects Hawkins to report healthy topline CAGR of around 14 per cent to Rs 976 crore over FY19-22 on the back of government initiatives, new product launches, strong brand name and wide distribution network. On the bottomline, the brokerage estimates around 23 per cent CAGR to Rs 100 crore due to strong revenue and operating margin improvement. The stock ended up 1 per cent at Rs 3,708.35 on Friday.