Marico hits record high two days running on strong Q1 update; JM Financial lifts target to Rs 985
Marico shares touched a record Rs 874, up 2% on BSE, taking market cap to Rs 1.09 lakh crore. A robust Q1 business update — double-digit domestic volume growth, resilient Parachute and value-added hair oils, softening copra prices and mid-teens international CC growth — drove the rally. JM Financial reiterated BUY, raising its target to Rs 985 from Rs 930.
Marico shares hit record high on strong Q1 business update: double-digit domestic volume growth, robust Parachute and value-added hair oils performance, softening copra prices, and mid-teens international growth. JM Financial raised target to Rs 985 with BUY.
Why this matters
The record run extends Marico's strong Q1 update that already sparked brokerage upgrades on its earnings outlook, aligning with broader FMCG double-digit Q1 growth aided by heatwave demand.
Retail-company signals are accelerating, up 528100% QoQ.