Marico, Dabur shares surge up to 7% post Q1 updates
Dabur India and Marico climbed 4% and 6.5% to their respective day’s highs of Rs 633 and Rs 655 on BSE after the companies posted their Q1FY25 updates.
Here are the company-wise Q1 updates:
Dabur India
Dabur, in its filing, stated that the consolidated revenue for the company is expected to register mid to high single-digit growth during Q1 FY25. India's business is expected to record mid-single-digit volume growth.
The quarter saw sequential improvement in demand trends with rural growth picking up. With forecasts of a normal monsoon and continued focus by the government on macroeconomic growth, the company expects improvement to accelerate in the coming months.
In India business, the HPC & Healthcare segment is expected to grow in high-single digits while the international business is expected to post strong growth in constant currency terms.
Following the update, global brokerage firms Morgan Stanley and JP Morgan have maintained an equal-weight and neutral rating respectively on Dabur. Morgan Stanley has set Rs 500 as the target price while JP Morgan has stated Rs 580 as the target price for the stock.
Also read: Titan shares fall 4% as weak Q1 update leads to target price cuts
Marico
During the quarter, the domestic business posted a modest uptick in underlying volume growth on a sequential basis. Consolidated revenue grew in high single digits while the international business delivered double-digit constant currency growth.
The company expects gross margin to expand on a year-on-year basis owing to a
