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Ethos, a leading player in luxury watch retail, has seen its shares rise by 166% to ₹2,542 from ₹959 a year ago. Over the past 12 months, the stock closed positively for 8 months. On March 11, the it touched a new all-time high of ₹3,044 per share.
According to Axis Securities, Ethos’ future is underpinned by the company's robust and consistent performance over the last several quarters, driven by continued strong demand in the premium and luxury watch space.
Luxury watch retailer Ethos is projected to see its shares cross the ₹3,000 mark, driven by the expected fivefold expansion of India's luxury market in the next decade. Axis Securities has initiated coverage on the stock with a 'buy' rating, setting a target price of ₹3,050 apiece.