Amber Enterprises India shares rose 2.3% in early trade on Monday. The rise followed JPMorgan’s upgrade of the stock to Overweight and a new target price of Rs 8,350. Investors see room for the company to catch up with peers.
At the close, the stock traded at Rs 7,389, up 2.3% for the day. It has gained about 14% in 2026, outperforming the Nifty 50, which is down 6.9% over the same period. The company’s market capitalisation is roughly Rs 26,000 crore.
JPMorgan noted that Amber had fallen 19% in the past three months despite a strong earnings outlook. The brokerage highlighted a margin beat in the June quarter and an upgrade of growth guidance.
For FY27, Amber raised its consumer durables growth target to 13-15% and its consolidated EBITDA margin to around 8%. It also plans to enter smartphone manufacturing as a medium‑term driver.
Mobile production is slated to start in Q1 of FY28, with a target of 80 lakh units in FY28 and 1.5-1.6 crore units in FY29. The company’s partnership with Oppo Mobiles India covers Oppo, OnePlus and Realme brands.
CLSA maintains an Outperform rating on Amber with a target price of Rs 8,100. The firm reported adjusted EBITDA of Rs 327 crore, up 28% YoY, in the first quarter.
CLSA expects electronics margins to stay under pressure in Q2 but says expansion projects are on schedule. Revenue estimates were cut, while EBITDA forecasts remain largely unchanged. Profit‑after‑tax estimates were lowered due to higher minority interest in the electronics business.