Why Is Honasa Consumer/Mamaearth Shares Rallying? Analyst Expects ₹340–₹360 Target Price

Honasa Consumer, the parent company of Mamaearth, surged 11.5% after reporting Q1 results that beat estimates, with underlying volume growth at 10.5%. Market expert Kiran notes that the stock is trading near its all-time high, above all key moving averages, and formed a bullish “rounding bottom” or “cup and handle” pattern. With today’s open-high move and strong momentum, the chart also indicates a breakout from a falling wedge pattern. While the stop-loss is slightly wider at ₹250, the stock could target ₹340–₹360 in the coming sessions if the breakout sustains. Investors are advised to buy on dips, keeping the ₹250 stop-loss intact.