Axis Capital has initiated coverage on PhysicsWallah (PW) with an Add rating and a price target of Rs 138. An Add rating typically indicates an expectation that the stock will deliver returns in line with or better than the broader market over the medium to long term.
In its initiation note, the brokerage said the rising demand for entry into top educational institutes and government jobs, coupled with limited seats, continues to support long-term growth for test-prep players like PhysicsWallah. The firm said this demand trend validates PW’s focus…

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