Buy Marico, target price Rs 585: Edelweiss

Edelweiss has buy call on Marico with a target price of Rs 585. The current market price of Marico Ltd. is Rs 542.7. Time period given by analyst is Intra Day when Marico Ltd. price can reach defined target.

Marico Ltd., incorporated in the year 1988, is a Large Cap company (having a market cap of Rs 70309.68 Crore) operating in FMCG sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2552.00 Crore, up 25.04 % from last quarter Total Income of Rs 2041.00 Crore and up 31.28 % from last year same quarter Total Income of Rs 1944.00 Crore. Company reported net profit after tax of Rs 365.00 Crore in latest quarter.


Investment Rationale
Volumes are above average, which suggests strong participation in the stock

Promoter/FII Holdings
Promoters held 59.6 per cent stake in the company as of March 31, 2021, while FIIs held 24.1 per cent, DIIs 10 per cent and public and others 6.3 per cent.