Sell Marico Ltd. target Rs 240 : Religare Capital Markets

Religare Capital Markets has a sell call on Marico Ltd. with a target price of Rs 240 .The current market price of Marico Ltd. is 269 Time period given by the brokerage is a year when Marico Ltd. price can reach defined target. Religare Capital Markets said Marico's multiple growth initiatives and dominant positioning in core categories are key positives, but are unlikely to stave off volume and margin headwinds over the next couple of years.