Buy Marico, target price Rs 600: Yes Securities

Yes Securities has buy call on Marico with a target price of Rs 600. The current market price of Marico Ltd. is Rs 575.15.

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 74344.87 Crore) operating in FMCG sector.


Marico Ltd. key Products/Revenue Segments include Edible Oil, Others, Personal Care, Export Incentives, Scrap for the year ending 31-Mar-2021.


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
After losing ~10 per cent from the recent high, the bulls have regained momentum on the upside. Follow-up buying can lift the stock towards Rs 600 zone.

Promoter/FII Holdings
Promoters held 59.52 per cent stake in the company as of 30-Sep-2021, while FIIs owned 25.92 per cent, DIIs 8.5 per cent.