DelhiDesk FMCG giant Marico has seen a surge in its share price following strong results in Q4, with domestic and foreign brokerages advising investors to buy. Analysts predict that shares could rise by around 24% from their current level of INR530.45 ($7.16). The company’s net profit jumped 18.6% YoY to INR305 crore in the March quarter, with sales of its flagship product Parachute growing by 9%. Marico sells products under brand names including Saffola, Parachute, Revive, Set Wet, Beardo and Nihar. The company’s shares have risen by 13,000% in 20 years, from INR4.05 in 2003 to their current level.
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👉 FMCG sector giant Marico’s shares have jumped today on the strong results of the March quarter.
👉 In the long term, it has made investors millionaires with an investment of just Rs 77,000.
👉 Domestic and foreign brokerages are looking enthusiastic about it and have advised to invest money.
👉 According to the brokerage, its shares can jump around 24 per cent from the current level.
👉 Marico’s shares were available at just Rs 4.05 on 16 May 2003 and now it is up 12998 per cent at Rs 530.45.
👉 Marico has made investors millionaires in 20 years with an investment of Rs 77,000.
👉 Its consolidated net profit jumped 18.6 per cent year-on-year to Rs 305 crore.
👉 Brokerage Jefferies has increased its target price to Rs 660 from Rs 550 on its strong results.
👉 JPMorgan has given it an overweight rating with a target price of Rs 585.
👉 Domestic brokerage Motilal Oswal is also bullish on its diversification with a buy rating on it with a target of Rs 590.
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