HomeMarket NewsStocks NewsStandout Brokerage Report: Nomura bullish on Marico, initiates 'buy'

Standout Brokerage Report: Nomura bullish on Marico, initiates 'buy'

Nomura has initiated a coverage on Marico stock with a target price of Rs 450 on the back of various reasons. According to Nomura, Marico has a very strong and resilient portfolio in the coconut oil which accounts for 44 percent of the overall portfolio and is gaining market share. Currently the market share is close to 62 percent.

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By Nimesh Shah  December 3, 2020, 10:31:26 AM IST (Updated)

Standout Brokerage Report: Nomura bullish on Marico, initiates 'buy'
Nomura has initiated a coverage on Marico stock with a target price of Rs 450 on the back of various reasons. According to Nomura, Marico has a very strong and resilient portfolio in the coconut oil which accounts for 44 percent of the overall portfolio and is gaining market share. Currently the market share is close to 62 percent.


The Saffola brand is again gaining traction because of COVID-related health concerns, leading to it gaining market share.

Also, the company has launched futuristic products in the hygiene and immunity space, which are going to add to growth going forward.

Therefore, Nomura is very bullish on Marico and hence has initiated a coverage with a ‘buy’.

CNBC-TV18’s Nimesh Shah has more details.

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