Thursday, 2 February 2017

Sensex, Nifty, Midcap consolidate but market breadth positive

FMCG major Marico's third quarter consolidated profit is seen declining 2.2 percent year-on-year to Rs 193.5 crore and revenue may fall 5.4 percent to Rs 1,472 crore as domestic volume is expected to decline 5-6 percent. Operating profit during the quarter is likely to fall 6.2 percent year-on-year to Rs 275.6 crore and margin may contract 20 basis points to 18.7 percent. 

Key factors to watch out for would be cut in prices for coconut oil by 2.5-3 percent during the quarter, lower growth in discretionary part of portfolio (Value Added Hair Oils & Safolla) and margin guidance.

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