Nomura initiates Allied Blenders with 'Buy', Rs 850 target; sees strong growth ahead

Nomura initiated coverage on Allied Blenders & Distillers with a 'Buy' rating and a target price of Rs850, citing premiumisation, new launches, backward integration and operating leverage as key drivers of growth. The brokerage forecasts a 26% EPS CAGR over FY26-29F and expects a 370-basis-point ex…