Marico has strong resistance around Rs 200: SP Tulsian

Marico has strong resistance around Rs 200, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “I had been maintaining my cautious stance on the Marico. I don’t dispute about the results and all that which had been posted by the company though this has the part effect of the Paras Pharmaceuticals also for one month because I think that they have concluded the deal on May 29 so that includes the one month performance.”
He further added, “There are no doubts about it but if you see these stiff valuations, it is like Marico has always enjoyed the lowest amongst the lot whether you take a call on the Dabur or ITC, HUL obviously ITC and HUL are the undisputed leaders. So I won’t be too comfortable with giving these kind of valuations to the stock inspite and the narrow- though the people have been taking a call but ultimately because their skin care business they have a rough weather and if you see practically not such a wide or diversified portfolio in FMCG space, I won’t be too comfortable taking a call on the stock maybe from the present level. Rs 196-198 or maybe maximum Rs 200 seems to be a strong resistance for the stock.”