Buy Dabur India, target price Rs 565: ICICI Securities

Buy Dabur India, target price Rs 565:  ICICI Securities

ICICI Securities has buy call on Dabur India with a target price of Rs 565. The current market price of Dabur India Ltd. is Rs 525.35.

Dabur India Ltd., incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 92798.41 Crore) operating in FMCG sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2516.04 Crore, up 27.07 % from last quarter Sales of Rs 1979.98 Crore and up 13.75 % from last year same quarter Sales of Rs 2211.97 Crore Company reported net profit after tax of Rs 483.19 Crore in latest quarter.

Investment Rationale
Stock resuming fresh up move after a higher base at the rising demand line and 52-week EMA thus offers favourable risk reward set up

Promoter/FII Holdings
Promoters held 67.9 per cent stake in the company as of June 30, 2020, while FIIs held 17.6 per cent, DIIs 7.4 per cent and public and others 7.1 per cent.

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