New Delhi, Sept. 22 -- Brokerage firm BoB Capital Markets has upgraded the jewellery stock Thangamayil Jewellery from 'hold' to 'buy' with a target price of Rs.6,355 per share, seeing an upside potential up to 28%.

"We believe the current valuation offers an attractive risk-reward opportunity and hence upgrade the stock to BUY (from HOLD) and value it at 35x Sep'28 EPS, implying a revised target price of Rs.6,355," the brokerage firm said in a report.

The brokerage firm further added that with a strong balance sheet, disciplined working capital management, and improving return ratios, the company is well positioned to deliver consistent earnings growth.

According to the firm, the management of the jewellery company remains confident of...