Marico shares gained three p.c intraday Monday, outperforming FMCG index after world brokerage home Credit score Suisse maintained Outperform ranking on the inventory.
The funding agency has set goal worth for the inventory at Rs 405, implying 20 p.c potential upside because it mentioned floods in Kerala haven’t impacted the reversal of copra cycle.
Copra, which is the uncooked materials for its key merchandise, is now at Rs 100 per kg in comparison with peak of Rs 145 per kg in January 2018.
Bettering quantity tendencies will tackle key investor concern, Credit score Suisse feels.
At 13:00 hours IST, the inventory worth was quoting at Rs 339.40, up Rs 2.30, or 0.68 p.c on the BSE.