# Shiprocket stock targets 30% upside

> JM Financial predicts Shiprocket stock to rise 30% by FY29.
- Title: Shiprocket stock targets 30% upside · mint | Shortify
- Summary: JM Financial predicts Shiprocket stock to rise 30% by FY29. JM Financial forecasts Shiprocket's stock to reach ₹165 by September 2028, a 30% gain from…
- Keywords: shiprocket, jm financial, fy29, target price, core business, emerging business, revenue, ebitda, money, business, stock, targets
- Source: mint — https://livemint.com/market/stock-market-news/newly-listed-stock-has-30-upside-potential-jm-financial-issues-buy-call-check-target-price-and-key-triggers-11792057154628.html
- Author: A Ksheerasagar
- Published: 2026-10-15T11:37:42+00:00
- Read time: 1 min
- Topics: shiprocket, jm financial, fy29, target price, core business, emerging business, revenue, ebitda, money, business
## Shiprocket stock targets 30% upside
JM Financial issues buy call for Shiprocket stock with 30% upside potential.

> Shiprocket received a bullish outlook from jm financial, which sees revenue rising to ₹ 43.4 billion by fy29
## Core business growth forecast
Core shipping business expected to grow at 18% cagr from fy26 to fy29.

> It expects the core business to grow at a compound annual growth rate of around 18% between fy26 and fy29
## Emerging business potential
Emerging businesses projected to contribute 43% of revenue by fy29.

> It estimates that revenue from these businesses will rise from ₹ 5.4 billion in fy26 to ₹ 18.8 billion by fy29
## Target price and upside
JM Financial sets ₹165 target price, indicating 30% upside from current price.

> It set a ₹ 165 target price, indicating 30% upside
## Revenue growth projections
Consolidated revenue expected to rise from ₹20.2 billion to ₹43.4 billion by fy29.

> The brokerage forecasted consolidated revenue to increase from ₹ 20.2 billion in fy26 to ₹ 43.4 billion by fy29e
## Profitability timeline
Emerging businesses expected to turn profitable in fy29 after losses through fy28.

> It expects the segment to remain loss-making through fy28 before turning profitable in fy29
## Stock performance since listing
Shares rose 35% premium to issue price on debut, later traded at ₹143.40.

> The shares made a strong debut on dalal street in august, listing at ₹ 131, a 35% premium to the issue price of ₹ 97
## Key takeaway

JM Financial forecasts Shiprocket's stock to reach ₹165 by September 2028, a 30% gain from current price.