Marico gains 3% as CLSA maintains ‘buy’ with target at Rs 465

Shares of Marico gained 3.7 percent intraday on April 3 as CLSA maintained buy with a target at Rs 465 per share. The pre-Q4FY19 commentary seems decent, while India business volume growth should be around 8 percent YoY, said CLSA.

It forecast the company to report more than 15 percent in EBITDA as well as net earnings.

The company is a top pick due to a strong launch pipeline and margin visibility.

At 1102 hours Marico was quoting at Rs 354.20, up Rs 8.50, or 2.46 percent on the BSE.

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