Marico scales record high

Marico jumped 7.37% to Rs 275.50 at 10:12 IST on BSE, with the stock scaling record on renewed buying after the company declared good Q1 result during market hours on Monday, 4 August 2014.

Meanwhile, the S&P BSE Sensex was up 44.38 points or 0.17% at 25,767.54

On BSE, so far 2.81 lakh shares were traded in the counter as against average daily volume of 1 lakh shares in the past one quarter.

The stock hit a record high of Rs 294.45 in intraday trade today, 5 August 2014. The stock hit a low of Rs 258 so far during the day. The stock had hit a 52-week low of Rs 196.05 on 12 August 2013.

The large-cap stock outperformed the market over the past one month till 4 August 2014, rising 3.03% compared with 0.92% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 18% as against Sensex's 14.82% rise.

The large-cap company has an equity capital of Rs 64.49 crore. Face value per share is Re 1.

Marico's consolidated net profit rose 17.5% to Rs 185.28 crore on 17.4% growth in total income to Rs 1641.45 crore in Q1 June 2014 over Q1 June 2013. The Q1 result was announced during market hours on Monday, 4 August 2014, when the stock settled 1.7% lower at Rs 256.60.

Marico attributed the growth in top line during the quarter to an overall volume growth of 5% with a 6.5% volume growth in India. The Domestic business recorded a growth of 28% while the International business posted a growth of 16%, Marico said.

Over the next five years, Marico will take definitive steps to become an emerging market MNC by seeking to win amongst consumers, trade and talent, the company said. The company's philosophy of developing capability ahead of growth to drive a sustainable business model across both Indian and International markets will be executed synergistically under the One Marico umbrella, it said. The company's focus will be on creating winning brands, winning culture and a winning talent pool to create a virtuous cycle of great talent and an enabling culture driving innovation driven growth, Marico said. Towards this, Marico has identified five areas of transformation where it will develop top quartile capability and processes. They are innovation, GTM, talent value proposition, IT & Analytics and cost management, Marico said in a statement.

Marico is a leading Indian group in consumer products & services in the global beauty and wellness space.

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