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Hold Marico; target of Rs 530: ICICI Direct

ICICI Direct recommended hold rating on Marico with a target price of Rs 530 in its research report dated May 06, 2022.

May 12, 2022 / 04:06 PM IST
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ICICI Direct's research report on Marico

Marico is one of the major FMCG companies present in hair oil, edible oil, foods & personal care segment. Major brands include Parachute, Saffola, Nihar, Hair & Care, Set Wet, Livon & Beardo. Marico has an overall distribution network of more than 5 million outlets and direct reach of ~1 million outlets. Through its stockist network, it reaches 58000 villages • With high gross margins of 45-50%, the company is able to spend 8-9% of its sales on advertisements to support new categories and products.


We change our rating on the stock from BUY to HOLD rating. We value the stock at Rs 530 on ascribing 45x FY24 earnings multiple.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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first published: May 12, 2022 04:06 pm
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