Shares to buy for short-term: This stock set to give 25% returns, experts advise to buy
Fundamentals of the Marico counter suggests an upside potential for near 25 per cent from current levels, say experts
Marico’s numbers for Q3FY19 remained inline with market estimates; sales, EBITDA and PAT were up by 15%,16% and 13% respectively to Rs 1861 cr (close to market expetation of Rs 1847 cr),Rs 999 cr (more than market expectation of Rs 981 cr) and Rs 252 cr ( almost close to market expectation of Rs 260 cr). Domestic volume growth for the quarter remained 5% while International business (IB) grew by 11%in cc terms led by better performance of Bangladesh (16% cc growth) and Vietnam (15% cc growth).
On suggestion for investors in regard to Marico counter Rajeev Anand, Research Analyst, Narnolia Financial Advisors informed Zee Business online in a detailed research citing, "The fundamentals of the Marico counter suggests an upside potential for 25 per cent. An investor can take a buy position in this stock for the target of Rs 460 per shares." Currently, the stock is oscillating around Rs 368 per counter.
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Speaking about the fundamentals of the Marico counter Naveen Trivedi, Analyst, HDFC Securities told, "Marico delivered a mixed bag with beat in revenue growth and miss on gross margins. Net revenues grew by 15%, which is above our expectations of 13%. Marico registered a volume growth of 6% as we had expected. The company benefited from softening of copra prices (-23% YoY, -12% QoQ)."
On his suggestion for the investors Naveen Trivedi of HDFC Securities said, "In short-term perspective the stock is poised to show the Rs 394 per share levels. We recommend investors to buy the stock."
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