Morgan Stanley has reiterated its ‘Equal-weight’ rating on Marico, with a target price of ₹625, indicating a potential downside of around 9% from the current market price of ₹691.55. The brokerage expects Q2 sales growth in the high single digits, in line with estimates. While domestic business saw higher realizations, international operations are facing headwinds.
Volumes for Parachute increased by 5%, driven by price hikes earlier this year. However, inflation in copra and vegetable oils is likely to moderate margins in Q2.
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