Marico’s shares fell by about 4% in the morning trade after the company’s sales in India only grew a little bit compared to last year, mainly because people in rural areas weren’t buying as much, the company said in its Q2 business update.
At 9:42 AM the shares of Marico were 4.12% down at the spot price of ₹547.35
Just a couple of days ago, on October 3, Marico’s stock price went up by almost 6%, reaching its highest point in a year. This happened ICICI Securities, said that buying Marico’s stock was a good idea and predicted it could go up by 19% from the price it closed at on Friday, which was ₹562.
Marico in its Q2 business update said that the demand for their products was pretty similar to what it was in the previous months.
