Dabur India gains after CLSA raises target price

NEW DELHI: Shares of FMCG firm Dabur India soared as much as 2.8 per cent to Rs 353.6 apiece on Wednesday, their highest level since February 2 after foreign brokerage CLSA said the outlook for consumer staple firms are improving with the forecast for normal monsoon in 2018.

It says normal monsoon will be positive for consumer sector and companies like Emami, Dabur and Hindustan Unilever are likely be key beneficiaries. Dabur India and Emami are among the top picks of the brokerage.

CLSA has raised Dabur's target price to Rs 415 from Rs 400 earlier and has a buy rating on the stock.


At 10:20 am, shares of the company were trading at Rs 352.55 apiece on BSE, up 2.68 per cent.