Shares of Marico Ltd. (NSE: MARICO) gained 1.32% in early trade on November 28, reaching ₹658.50, following a positive outlook from brokerage firm Goldman Sachs. The brokerage reaffirmed its ‘Buy’ rating on the FMCG major with a target price of ₹720, indicating further upside potential.
Goldman Sachs highlighted Marico’s resilience in navigating a tough macroeconomic environment. The company is gaining market share in key categories such as Parachute, even amid inflationary pressures. Additionally, its digital-first brands and Saffola Foods continue to show high growth with improving profitability. While the VAHO segment remains a weak spot, it no longer constrains overall performance, according to the brokerage.
The firm’s focus on price-led growth, coupled with its strategic approach to margin management despite higher copra inflation, has contributed to its favorable outlook.
Disclaimer: This news report is based on brokerage commentary and market data and is for informational purposes only. Investors are advised to consult their financial advisors before making any investment decisions.
