Monarch Networth Capital

Jefferies has a ‘Buy’ rating on MCX, Gateway Distriparks, and Nykaa, with separate growth triggers for each stock. MCX is backed by potential FPI participation, Gateway Distriparks by capacity expansion and rail opportunity, and Nykaa by sustained growth and profitability. Risks include regulatory execution, competition, and valuation. MCX, Gateway Distriparks, and Nykaa.