Marico shares rise 8 percent


Marico shares rise 8 percent
Bangalore: The Marico stock was among the top gainers after its price went up by nearly eight percent. After opening the day at 115.05, the stock touched its 52 week high of 135, before closing trade at 124.60, with a gain of 7.79 percent. Through the day, over a million Marico shares were traded in the market with the current P/E ratio of the stock at 32.28. The 52 week stock price chart is on the left. Marico, together with its subsidiaries, carries on business in branded fast moving consumer goods and branded services. The company operates in two segments: consumer products and others. Consumer products includes products, such as coconut oils, other edible oils, hair oils and other hair care products, fabric care products, processed foods (including distribution alliance with Indo Nissin), soaps and baby care products. Others include skin care and Global Ayurvedics. In India, Marico manufactures and markets products under the brands, Parachute, Nihar, Saffola, Sweekar, Hair & Care, Revive, Shanti, Oil of Malabar, Mediker and Manjal. Recently, Marico announced the acquisition of aesthetics business of the Singapore based Derma Rx Asia Pacific through Kaya. Kaya is Marico's wholly owned subsidiary that delivers skin care solutions in India and overseas through its range of Kaya Skin Clinics. Out of the 22 analysts following the stock currently, the consensus recommendation is outperform with 10 analysts suggesting to buy the stock.