New Delhi, March 19 -- Baazar Style Retail, a Jhunjhunwala-backed retail stock, has surged nearly 21 percent in March, reversing its three-month losing streak, JM Financial reported. The stock had witnessed sharp corrections earlier, falling 22 percent in February, 13.5 percent in January, and 10.5 percent in December. However, the recent rally has brought the stock back into focus.

Recently, JM Financial initiated coverage on Baazar Style Retail with a 'buy' rating and set a target price of Rs.400, indicating a potential upside of over 71 percent from its current levels. The brokerage expects the company to deliver revenue, EBITDA, and PAT CAGR of 30 percent, 36 percent, and 50 percent over FY24-27E, respectively.

According to JM Finan...