Buy Marico, target price Rs 440: ICICI Securities

Buy Marico, target price Rs 440:  ICICI Securities

ICICI Securities has buy call on Marico with a target price of Rs 440. The current market price of Marico Ltd. is Rs 410.2.

Marico Ltd., incorporated in the year 1988, is a Large Cap company (having a market cap of Rs 53077.84 Crore) operating in FMCG sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1989.00 Crore, up 3.32 % from last quarter Sales of Rs 1925.00 Crore and up 8.75 % from last year same quarter Sales of Rs 1829.00 Crore Company reported net profit after tax of Rs 273.00 Crore in latest quarter.

Investment Rationale
Price forming higher base above multi-year resistance area of Rs 400 and sustaining above 50 days’ EMA

Promoter/FII Holdings
Promoters held 59.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 23.7 per cent, DIIs 10.4 per cent and public and other 6.2 per cent.

Source link


Please enter your comment!
Please enter your name here