GNG Electronics shares up 70% in a year as Motilal Oswal sees 47% upside
Motilal Oswal keeps a 'Buy' rating on Indian small cap GNG Electronics with a target price of Rs.840 per share, citing scale advantages.
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what happened
Shares of small cap GNG Electronics ended 0.91% higher on Friday, November 13, at Rs.577.10 on BSE, with a market capitalisation of Rs.6,579.60 crore. The stock fell 17.13% over the last month, but it has gained 37% over six months, 86% so far in 2026 and 71% over one year.
According to Moody's, Motilal Oswal sees scale in sourcing and distribution, along with expected better inventory rotation, supporting the company in the near term. The brokerage forecasts revenue, EBITDA and profit after tax to grow at CAGRs of 34%, 47% and 49% over FY26–FY29, and expects gross margin to expand by about 350bp in FY27E. It believes growth should hold even if memory prices ease.
The brokerage reiterated its 'Buy' rating and a target price of Rs.840, based on about 30x FY28E EPS. It expects high inventory and channel credit to keep working capital elevated, with net debt rising to about INR5.3b in FY28E before declining.
why it matters
For the wider market, the story is mainly an example of how a memory shortage has pushed Indian laptop prices up by nearly 80% a year, while GNG keeps refurbished laptops at roughly 30–35% of new device prices. As a single small cap stock, its moves are unlikely to shift broader indices much.
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- Small-cap stock rallies 70% in a year: Motilal Oswal sees another 47% upside | Should you buy? Check target price — Moody's, 14 November 2026 at 18:18 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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