Marico share price touched a 52-week high of Rs 532.60, adding nearly 5 percent on June 29 after foreign broking house Credit Suisse raised the target price on the stock to Rs 600 from Rs 490 per share earlier.
According to Credit Suisse, the company is amongst the most successful TAM expansions if the FY24 revenue target for Saffola is achieved.
In our base case, we see Saffola Foods reaching Rs 740 crore of revenue in FY24 and Rs 850 crore target in foods will be achieved via one more category entry, it added.
The company needs a faster ramp-up in honey & soya chunks to achieve the revenue target.
News Source:- Moneycontrol