Dabur India gain shares of 1.6 per cent and sales volume growth of 9.4 per cent
Mumbai: ‘Dabur India shares gain 1.6 per cent after the company's sales volumes growth beat rivals for the January-March quarter despite a challenging macro environment’, said dealers. Dabur posted a sales volume growth of 9.4 per cent for the March quarter while that of Hindustan Unilever's came at 3 per cent, lagging analyst estimates.
Nomura also upgrades the stock to ‘buy’ from ‘neutral’ and raises its target price to 200 rupees from 174 rupees, citing better outlook compared to rivals.
‘Management's commentary indicates that the current quarter trend is likely to sustain into 1HFY15, which is a key positive as compared to peers where the outlook is more muted’, stated Nomura in a report dated Wednesday.
( Source : reuters )
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