PhysicsWallah shares surged more than 4%, touching an intraday high of Rs 126.75 on the National Stock Exchange (NSE) in early trade on Friday after Motilal Oswal initiated coverage on the education technology company with a ‘Buy’ rating and a target price of Rs 200.
Motilal Oswal’s target price implies an upside of about 66% from its reference price of Rs 121. The brokerage described PhysicsWallah as one of India’s most capital-efficient education platforms, supported by its low-cost customer-acquisition model, affordable courses, and expanding online and offline presence.
