Marico surges 8% after Q2 earnings beat; analysts raise targets
The stock opened at ₹832.55 and has traded in a range of ₹826.05 to ₹865 through the session. Trading volumes were heavy, with over 90.69 lakh shares changing hands, translating to a traded value of ₹770.55 crore.
Marico Limited's shares jumped over 8 percent on the National Stock Exchange following its strong second-quarter earnings announced on Monday. Trading commenced at ₹832.55, the stock reached a high of ₹865 by mid-session, valuing the company at ₹770.55 crore in the day's trading volume of over 90.69 lakh shares. Analysts reacted favorably to the results, with several raising their price targets.
Elara Securities upgraded Marico to BUY and increased its target price to ₹1,000 from ₹970, while JM Financial maintained its BUY rating and raised it to ₹950 from ₹940. InCred Equities retained an ADD rating with a new target of ₹980, and Motilal Oswal reiterated its BUY rating, setting a target price of ₹975. One common theme among the brokerages was the company's upward revision in guidance, now expecting mid-twenties EBITDA growth for FY27, up from the previous high-teens target.
The company's guidance has also been pulled forward, with revenue expectations now moving to FY29 from FY30.
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