Marico Shares Soar: Brokerages Set High Target Prices After Strong Q3 Results

• Marico, maker of Saffola and Parachute, reported excellent Q3 results with consolidated revenue up 20% year-on-year, confident in achieving full-year growth targets.
• Antique Stock Broking maintained a 'BUY' rating and raised Marico's target price to Rs 900, citing strong core portfolio, distribution, and VAHO segment growth.
• Nuvama Institutional Equities set a target price of Rs 865, noting robust growth in VAHO (22% YoY) and international business (22% YoY), despite a slight dip in Parachute volumes.
• The company's share performance shows significant gains: 39% in two years and 81% in five years, with market cap reaching Rs 99,018.13 crore.
• While Saffola's edible oil segment may see some sluggishness, the overall outlook remains positive due to strong portfolio performance.

Why It Matters: Marico's strong Q3 results and positive brokerage outlook suggest significant growth potential for its shares.