Wakefit shares jump 4% after Nomura sets Rs 200 target price

Wakefit shares jumped over 4% in early Thursday trading after Japanese brokerage Nomura initiated coverage with a Buy rating. The stock climbed 4.15% to Rs 158.80 on the NSE, reaching an intraday high of Rs 159.95 before settling. Nomura set a target price of Rs 200, implying a potential upside of 31% from its reference price. The analysis valued Wakefit at 25 times average estimated pre-India Accounting Standards EBITDA for fiscal years 28 and 29. Over the past month, Wakefit shares rallied 19.24%, significantly outperforming the benchmark index which declined 1.87%. Total turnover recorded Rs 47.68 crore. The company holds a 30-35% share of India's online mattress market and ranks among the top three in the organized segment. Mattresses contributed about 61% of FY26 revenue, while furniture accounted for 29%. Nomura highlighted Wakefit's vertically integrated model spanning product development, manufacturing, logistics, and distribution as a key driver for cost efficiency and pricing power. As of the end of the June quarter, the company operated 165 stores.