ICICI Direct has given Buy recommendation for Navneet Education with a target price of Rs. 125 in its research report issued on Nov 10, 2021

ICICI Direct’s research report on Navneet Education

Navneet Education (NEL) is an educational syllabus based content provider in print and digital medium and a manufacturer of scholastic paper stationery for domestic and international markets. Over the years, the company has built a strong brand in the educational content & scholastic stationery In the state boards of Maharashtra and Gujarat, the company has a market share of 65%. It has also entered into CBSE syllabus books in other states

Outlook

We maintain BUY recommendation on the stock We value NEL at Rs 125 i.e. 12x FY23E EPS

 

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