Mumbai, April 15 -- The target price implies an upside potential of 25.15% from current levels.

In its note, the brokerage described Orkla India as a multi-category South Indian packaged foods player with strong regional brands such as MTR and Eastern. The company operates across spices and convenience foods, including ready-to-cook and ready-to-eat products, vermicelli, and beverages.

Orkla India holds a leadership position in the packaged spices segment, with a 31.2% market share in Karnataka and 41.8% in Kerala, reaching 9 out of 10 households in both states. Through its Eastern brand, the company also commands a 22.2% share in India's branded spice exports market and has remained the country's largest branded spice exporter for 24 c...