Electronics Mart India shares soar 240% in 18 months, sparking speculation about further growth.

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Electronics Mart India's shares have surged over 240% since its market debut in October 2022, offering significant gains to investors over 18 months. The company witnessed a strong performance on both BSE and NSE, with its stock price soaring by over 2% in a volatile trading session. Known for its diverse product range spanning small appliances, IT, mobile devices, and major appliances, Electronics Mart India continues to expand its footprint with new multi-brand stores across regions like Telangana, Andhra Pradesh, and Delhi.

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In its recent financial reports, Electronics Mart India showcased impressive revenue growth, with a notable increase in Q3FY24. The company's EBITDA and PAT also witnessed substantial improvements, reflecting its strong operational performance. Moreover, Electronics Mart India's stock has outperformed its sector significantly in the past year, indicating investor confidence and market optimism.

Analysts suggest that while the stock has been on an upward trend in the longer term, it may undergo a consolidation phase in the near term. However, with support levels around ₹160–170 and resistance at ₹220, the stock is expected to maintain its bullish momentum. Dr. Ravi Singh of Religare Broking Ltd forecasts a potential upside for Electronics Mart India's stock, indicating a positive outlook for investors.

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