Dreamfolks Share Price Soars by 5.5%
On Wednesday (28th February), the share price of airport service provider Dreamfolks Services saw a rapid increase. The shares surged by more than 5.5%. Taking note of the strong growth outlook for the stock, brokerage house Motilal Oswal has initiated coverage on Dreamfolks with a buy rating.
The brokerage believes that the company will benefit from the opening of a new airport, an increase in domestic air traffic, and a comfortable travel experience. On Thursday (29th February, 2024), the share was trading at Rs. 495 with a 2.60% decline.
According to the brokerage house, the company will benefit from the opening of a new airport, growth in domestic air traffic, and an increase in credit card penetration (currently at 3%). The company has established subsidiary companies in Singapore and Malaysia. It is estimated that by FY26, the company’s market share will increase from 68% to 73%.
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