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PhysicsWallah Receives Surprise Reduce Rating From Kotak Institutional Equities
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CNBC TV18•07-10-2026, 09:28
PhysicsWallah Receives Surprise Reduce Rating From Kotak Institutional Equities
- •Shares of PhysicsWallah Ltd. traded higher by up to 3 percent marking their third consecutive session of gains.
- •Kotak Institutional Equities initiated coverage with a Reduce rating and set a target price of 125 rupees per share.
- •The brokerage highlights PhysicsWallah as a leading test preparation provider holding significant market shares in JEE and NEET aspirants.
- •Kotak projects strong growth with online and offline revenue CAGRs of 30 percent and 22 percent respectively through FY2029.
- •Despite positive growth forecasts and strong consensus from other analysts, the stock faces a cautious anti-consensus call.
Key Questions Answered
Kotak Institutional Equities initiated coverage on PhysicsWallah with a ‘Reduce’ rating and a target price of ₹125 per share, representing a potential downside of about 5.4% from Tuesday’s closing price.
According to Kotak Institutional Equities, PhysicsWallah held a 22% share of the 2.9 million JEE aspirants and a 25% share of the 4.1 million NEET aspirants in FY2026.
Out of the 11 analysts covering PhysicsWallah, eight hold a ‘Buy’ rating, one has a ‘Hold’ rating, and two have a ‘Sell’ rating.
