Target: Rs 525/550 Hindustan Petroleum continues to trade in a strong long-term uptrend, having resumed its bullish structure after an earlier corrective phase. The stock has posted higher highs and higher lows and is currently undergoing a healthy consolidation near the upper end of the range, indicating profit booking rather than a trend reversal. The … Read more
Shares of FMCG company Marico shot up 9.3% to an intraday high of Rs 687.30 on the BSE after the company on Tuesday reported a 20% in consolidated net profit to Rs 433 crore for the September quarter. It had posted a net profit of Rs 360 crore in the July-September quarter a year ago. … Read more
Marico saw low single-digit growth in domestic volumes on a year-on-year basis during the third quarter ended December. The company has also reported a slight sequential improvement in its core portfolio. Consolidated revenue is said to have dropped in low single-digits year-on-year due to significant currency depreciation in select overseas geographies. The pricing corrections in … Read more