Tuesday, 02 January 2024 12:17 GMT

Aditya Birla Fashion Shares Jump Nearly 5% On OWND! Launch SEBI Analyst Sees Breakout Potential Above This Level


(MENAFN- AsiaNet News)

Shares of Aditya Birla Fashion and Retail (ABFRL) rose nearly 5% on Wednesday after the company announced the launch of its new fashion brand OWND!, aimed at India's Gen Z and trend-conscious consumers.

The brand debuts with a fresh identity, contemporary shop layouts, and a range of trend-driven products for the dynamic lifestyle of young India. 

ABFRL plans to convert its existing StyleUp stores into OWND! and expand to 100 outlets by the end of this financial year.

Analyst Views

SEBI-registered analyst Financial Sarthis noted that ABFRL's stock is now trading above anchored volume-weighted average price (AVWAP) after a strong pullback, with resistance near ₹95. 

They said ₹95.18 is the key breakout level and a close above it could signal a reversal toward triple-digit targets, potentially taking the stock to ₹108 and ₹120. Support levels were pegged at the ₹80 zone.

Separately, SEBI-registered platform Equity Insights Elite said ABFRL is moving aggressively into value retail, the fastest-growing segment in India's fashion market. 

They highlighted that the new OWND! brand is focused on Gen Z, with StyleUp stores being converted under the new banner and a target of 100 outlets by FY26. 

“Everyone is aggressively scaling, as value fashion is where the big growth lies,” the platform said.

What Is The Retail Mood?

On Stocktwits, retail sentiment was 'neutral' amid 'normal' message volume.

ABFRL's stock has declined 15% so far in 2025.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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