External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Marico is one of the major FMCG companies present in hair oil, edible oil, foods &amp; personal care segment</li><li>Major brands include Parachute, Saffola, NIhar, Hair &amp; Care, Set Wet, Livon &amp; Beardo</li><li>Target Price &amp; Valuation: We value stock at Rs 550 on ascribing 45x FY24 earnings multiple. FMCG company’s valuation multiples are contracting on slower growth</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Marico is one of the major FMCG companies present in hair oil, edible oil, foods &amp; personal care segmentMajor brands include Parachute, Saffola, NIhar, Hair &amp; Care, Set Wet, Livon &amp; BeardoTarget Price &amp; Valuation: We value stock at Rs 550 on ascribing 45x FY24 earnings multiple. FMCG company’s valuation multiples are contracting on slower growthContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Marico: Copra Down; Crude Based RM Still Hurting Margins

Marico Ltd

Marico: Copra Down; Crude Based RM Still Hurting Margins