Goldman Sachs initiates coverage on Mamaearth with buy rating, stock jumps 5%

Goldman Sachs initiated coverage on Honasa Consumer (Mamaearth) with a ‘Buy’ rating, seeing a 26% upside potential. Shares rose 5% post-announcement. The brokerage highlighted India’s beauty industry as a multi-year growth driver, predicting revenue and margin improvements by FY30, aided by retail expansion and new brand profitability.