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Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Shares of Marico Ltd touched 52-week high at ₹422.60 on the NSE on Tuesday after the company said there was a faster-than-expected recovery in consumer sentiment that is aided by the festive season and fewer number of Covid-19 cases. The stock slipped to a low of ₹410.60 on profit-booking before closing at ₹419.70, a gain of 0.6 per cent over the previous day's close. From its March low of ₹234, it has gained almost 80 per cent.
Apart from growth optimism, analysts are bullish on new launches as the FMCG firm is resilient and can withstand the raw material pricing pressure.
According to Motilal Oswal Financial, the foods and edible oils portfolio is likely to continue its growth momentum with a higher consumer focus on health, hygiene, and immunity boosting products. “Riding this tailwind, it is launching new products in these categories, the success of which will be critical for medium-term growth (though it has seen limited success so far)," the brokerage said.
Continued rebound in VAHO (value-added hair oils) is a positive surprise.... Outlook on its international business is getting better. “While material costs may see a mild inflation, the company is well-placed to offset it through price increases and cost optimisation.” Motilal Oswal has retained its ‘Buy’ rating with a target price of ₹470/share (earlier ₹440).
Third quarter pre-quarterly update indicates faster-than-expected recovery in consumer sentiment. Demand in India business has continued strongly with double-digit volume growth; and the double-digit growth in VAHO is positive, said Nomura, which also maintained its ‘Buy’ with a price target of ₹450.
However, for CLSA the stock is still an “underperformer” with a price target of ₹350
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
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