New Delhi, Feb. 18 -- Domestic brokerage house JM Financial has initiated coverage on Eureka Forbes with a 'buy' rating and a target price of Rs.610, indicating a 30 per cent upside from the stock's current low. The brokerage highlighted the company's growth potential, strong financial position, and operational efficiencies as key investment drivers. Despite some competitive risks and execution challenges, JM Financial believes Eureka Forbes has significant room for expansion.

JM Financial stated that Eureka Forbes has multiple avenues for growth, including market share gains, increasing penetration, and margin improvements. The brokerage emphasised that the company operates in a large addressable market with ample opportunities, support...