ICICI Securities has reiterated its BUY recommendation on Honasa Consumer Limited, raising its target price to Rs 550 from Rs 500, implying an upside potential of nearly 32% from the current market

ICICI Securities has reiterated its BUY call on Honasa Consumer, setting a target price of Rs 400 against the current market price of Rs 312, implying a potential upside of 28%.

Honasa Consumer Limited, the parent company of Mamaearth, witnessed a sharp 20% drop in its share price on November 18, hitting the lower circuit at Rs 297.25 on the National Stock Exchange (NSE).