Motilal Oswal retains Buy on Safari, citing Jaipur capacity and store expansion
The brokerage has set a ₹2,250 target price for Safari Industries, implying 50% upside, supported by premiumisation, retail expansion and a Jaipur capacity addition of 0.15 million pieces a month.
Motilal Oswal retained Buy ratings on luggage retailer Safari Industries and FMCG company Emami, citing Safari’s Jaipur capacity, premiumisation and store expansion, and Emami’s resilient domestic volumes despite crude-linked input-cost pressure.
Why this matters
The call follows analysts picking Safari over VIP as Q4 splits the luggage duopoly and Motilal Oswal's earlier 58% upside view amid VIP, Samsonite and D2C competition.
Retail-company signals are accelerating, up 207329% QoQ.