Marico: Why this stock still retains target price of 610 even after big rally.

Marico, a stock which is rallying steadily after march 2021 and still retains the brokers target of another 20 percent upside.

Marico Limited is a consumer products company operating in the beauty and wellness space. The Company's principal products include edible oils and value added hair oils. Parachute, Nihar, Saffola, Hair & Care and Livon are the popular brands which hold its value.

"The stock which is having steady upside movement had an valuable reason for it. Marico revenue and profit growth is the reason for it. Marico’s India business went up by 30% and the international business rose up by 20%, Company is seeing demand improve as the second COVID-19 wave recedes. It stuck to its medium term outlook of double-digit profit growth and an 8-10% rise in domestic volumes.

Parachute has been an iconic brand for several decades. In fact, today it commands a staggering 62% share in the coconut oil market and contributes around 38% to the company’s domestic business. It’s an extremely valuable asset. Meanwhile, Saffola, the other iconic brand has also been seeing some good competition

Now Motilal Oswal and Sharekhan gives Buying recommendations with the target price of 610. MARICO has increased dividends consistently over the last 5 years and paying dividend of ₹14.26 every year.