New Delhi, May 5 -- Radico Khaitan, one of the most recognized IMFL (Indian Made Foreign Liquor) brands in India, saw its share price jump 4% in intraday trade on Monday, May 5, reaching Rs.2,545 apiece after domestic brokerage firm ICICI Securities initiated coverage on the stock with a 'buy' rating and a target price of Rs.2,900 apiece. This implies an upside potential of around 19% from the stock's previous closing price.

The stock has already delivered a stellar run in recent years, gaining nearly 200% in the last three years, 700% over the last five years, and over 2,000% in the past decade, driven by a steady rise in demand for premium and luxury alcohol brands.

Despite the stellar rise in Radico Khaitan's stock price, ICICI Secur...