Interloop target price set at Rs137 on growth outlook

Interloop Limited (ILP) is on track for an earnings turnaround driven by timely capacity expansion and diversification across its Apparels, Denim, and Hosiery segments, according to JS Global Research. The JS reiterated a "Buy" rating on the stock with a target price of Rs137, following a management meeting and site visit to the company's new Apparels and Hosiery plants, which reinforced its positive outlook on the company's strategic direction. Management pointed to several favourable developments, including the removal of super tax for large exporters, uninterrupted electricity supply from the national grid despite the ongoing energy crisis, and reduced export refinancing rates.