Marico surges on eyeing to expand health care brand Saffola
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Marico is currently trading at Rs. 518.10, up by 1.05 points or 0.20% from its previous closing of Rs. 517.05 on the BSE.
The scrip opened at Rs. 515.05 and has touched a high and low of Rs. 519.35 and Rs. 512.25 respectively. So far 18782 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 606.00 on 18-Oct-2021 and a 52 week low of Rs. 455.80 on 27-Jan-2022.
Last one week high and low of the scrip stood at Rs. 526.00 and Rs. 507.05 respectively. The current market cap of the company is Rs. 66883.84 crore.
The promoters holding in the company stood at 59.48%, while Institutions and Non-Institutions held 33.92% and 6.60% respectively.
Marico is planning to continue to expand its health care brand Saffola as it aspires to build an Rs 850-1,000 crore business from its food portfolio by FY24. In the last two years, the company has extended the brand Saffola in immunity, foods and recently launched mayonnaise and peanut butter.
The company will continue to launch and expand the addressable market in the segment through Saffola or any new brand. Under the brand Saffola, Marico is selling various products, including noodles, oats, honey, and immunity booster Chyawanprash, besides the edible oil.
Marico is one of India’s leading Consumer Products Group, in the global beauty and wellness space. Its products are sold in India and about 25 other countries in Asia and Africa.
