Amber Enterprises Gains 2% as JPMorgan Turns Bullish, Sees 16% Upside

Shares of Amber Enterprises India rose around 2% after JPMorgan upgraded the stock to ‘Overweight’ from ‘Neutral’ and raised its target price to ₹8,350, implying nearly 16% upside. The brokerage cited stronger-than-expected Q1 FY27 margins, improved growth guidance and the company’s potential to catch up with peers. Amber has guided for 13–15% growth in its consumer durables business for FY27 while maintaining an EBITDA margin target of around 8%. JPMorgan also highlighted Amber’s planned entry into smartphone manufacturing as a key growth driver, with commercial production expected from FY28.