Marico Share Price Futures Expected to Remain Bullish Up to 691.60 on September 9th, 2024, What is The Confirmation
Marico, the leading consumer goods company, is expected to see its share price futures remain bullish on September 9th, 2024, according to market analysts and big investors. The company’s strong fundamentals, growing market share, and positive future prospects have contributed to the positive sentiment surrounding its stock.
Main Points
- 1 Technical Analysis of Marico Share Price
- 2 Fundamental Analysis of Marico Share Price
- 3 Factors Influencing Marico Share Price
- 4 Predicted Price Action for Tomorrow
- 5 Analysts Opinions of Marico Share Price
- 6 Future Prospects of Marico Share Price
- 7 Today’s Update News of Marico Share Price
- 8 Important Levels
- 9 Causes of Movement
- 10 Investors Stay Updated
A technical analysis of Marico’s share price futures reveals a bullish trend. The stock has been trading above its 50-day and 200-day moving averages, indicating a strong upward momentum. The relative strength index (RSI) is currently at 65, suggesting that the stock is neither overbought nor oversold.
Marico’s strong financial performance has been a key driver of its share price. The company has reported consistent revenue growth and improved profitability in recent quarters. Its market capitalization stands at ₹83,808.17 crore, making it one of the largest players in the consumer goods sector. Key financial ratios for Marico include:
- Price-to-earnings (P/E) ratio: 55.06
- Earnings per share (EPS): ₹11.73
- Price-to-book (P/B) ratio: 19.88
- Dividend yield: 1.47%
Several factors have contributed to the rise in Marico’s share price, including:
- Increasing market share in key product categories
- Successful launch of new products
- Expansion into new markets
- Effective marketing campaigns
- Efficient cost management
Predicted Price Action for Tomorrow
Based on the current market conditions and Marico’s performance, analysts expect the company’s share price futures to open at around ₹650 on September 9th, 2024. The stock is expected to trade in the range of ₹645 to ₹655 during the day, with a closing price of approximately ₹652.
Analysts remain bullish on Marico’s future prospects. According to a report by Prabhudas Lilladher, the brokerage firm has maintained a “Hold” rating on the stock with a target price of ₹681.
Marico’s future prospects look promising, with the company focusing on expanding its product portfolio, strengthening its distribution network, and exploring new growth avenues. The company’s strong brand equity and consumer loyalty are expected to drive its growth in the coming years.
As of September 6th, 2024, Marico’s share price closed at ₹645.60, up 0.87% from the previous day’s close of ₹640.05. The stock has been trading in the range of ₹486.30 to ₹692.80 in the past 52 weeks.
Important Levels
Key support levels for Marico’s share price futures are ₹645 and ₹640, while resistance levels are ₹655 and ₹660. A breakout above ₹660 could lead to further gains in the stock price.
Causes of Movement
The rise in Marico’s share price has been driven by several factors, including:
- Strong quarterly results
- Positive outlook for the consumer goods sector
- Increased investor confidence in the company’s growth prospects
- Favorable market conditions
Investors Stay Updated
Investors are advised to stay updated on Marico’s share price performance and news related to the company. Regular monitoring of the stock’s technical and fundamental indicators can help investors make informed investment decisions.
Note: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
