External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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>We recently engaged with Marico's management and conducted comprehensive channel checks across India to assess underlying demand trends</li><li>Based on these findings, we maintain our high-conviction BUY rating within the staples sector, with a target price of INR 775 (50x Dec-26 EPS, reflecting a 20% premium to the 5-year average P/E)</li><li>We believe the worst is behind us, with factors such as muted volume growth, pricing corrections, challenges in the new business segment, and temporary currency headwinds</li></ul><p><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></p>

We recently engaged with Marico's management and conducted comprehensive channel checks across India to assess underlying demand trendsBased on these findings, we maintain our high-conviction BUY rating within the staples sector, with a target price of INR 775 (50x Dec-26 EPS, reflecting a 20% premium to the 5-year average P/E)We believe the worst is behind us, with factors such as muted volume growth, pricing corrections, challenges in the new business segment, and temporary currency headwindsContent 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: On an Improving Trajectory. Maintain BUY

Marico Ltd

Marico: On an Improving Trajectory. Maintain BUY