Motilal Oswal Financial Services (MOFSL) has initiated coverage on Indigo Paints with a buy rating for a target of Rs 2,270.

The financial services firm expects sales compounding of 28 percent, EBITDA compounding of 35 percent and profit compounding of 41 percent from FY21 to FY24 and that’s why a buy rating on the stock and that explains the colour that Indigo Paints is showing in trade.

Also Read: These are the biggest, fastest and most consistent wealth creators according to Motilal Oswal

Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.