Marico (MARICO) Shares Surge 8% Following Impressive Q4 Results: Is Now the Time to Buy?

• Marico shares surged by over 8% in early trading on Tuesday, following the company’s Q4 results.
• The FMCG giant reported a consolidated net profit of ₹320 crore in Q4FY24, marking a 4.9% increase from the same period last year.
• Analysts remain bullish on Marico stocks, with Nuvama Equities upgrading Marico to ‘Buy’ from ‘Hold’ and raising the share price target to ₹640 from ₹574.

Marico shares see a significant surge following positive Q4 results, with analysts predicting a promising future for the FMCG giant.

Marico’s Q4 Results Trigger Stock Surge

Marico, a major player in the FMCG sector, saw its shares spike by as much as 8.8% to ₹577.80 apiece on the BSE in early trade on Tuesday. This surge came in the wake of the company’s Q4 results, which showed a consolidated net profit of ₹320 crore, a growth of 4.9% from the year-ago period. The company’s revenue from operations in Q4FY24 also rose by 1.69% YoY to ₹2,278 crore.

Analysts Remain Bullish on Marico