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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๐Ÿ‘‰ FMCG sector giant Marico’s shares have jumped today on the strong results of the March quarter.
๐Ÿ‘‰ In the long term, it has made investors millionaires with an investment of just Rs 77,000.
๐Ÿ‘‰ Domestic and foreign brokerages are looking enthusiastic about it and have advised to invest money.
๐Ÿ‘‰ According to the brokerage, its shares can jump around 24 per cent from the current level.
๐Ÿ‘‰ 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.
๐Ÿ‘‰ Marico has made investors millionaires in 20 years with an investment of Rs 77,000.
๐Ÿ‘‰ Its consolidated net profit jumped 18.6 per cent year-on-year to Rs 305 crore.
๐Ÿ‘‰ Brokerage Jefferies has increased its target price to Rs 660 from Rs 550 on its strong results.
๐Ÿ‘‰ JPMorgan has given it an overweight rating with a target price of Rs 585.
๐Ÿ‘‰ 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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