Hold Marico Ltd., target Rs 280.0 : JM Financial

JM Financial has Hold call on Marico Ltd. with a target price of Rs 280.0. The current market price of Marico Ltd. is 293.4. Time period given by analyst is year, when Marico Ltd. price can reach defined target. J JM Financial said a sharp 18% price cut in Parachute masked a strong growth achieved in volume terms. Its PE is likely to con strict stock performance over the near-term. Marico rose 1.64% to Rs 300.05 on Monday.