Large Cap FMCG Stock Decides Record Date For Dividend, Motilal Oswal Assigns Buy Call

Leading large cap FMCG sector stock, Marico Ltd fixed March 8, 2023 as the record date for interim dividend for financial year 2023. The dividend will be paid before March 28. Motilal Oswal has recommended investors to buy Marico Ltd with a target price of Rs 580 apiece as it can fetch 19% return soon. Current market price of Marico is Rs 486.30 apiece on BSE. Check details below:

1. Marico Ltd Sets Record Date For Interim Dividend

According to the BSE filing of the company, "This is to inform you that the Board of Directors ('Board') of the Company has at its meeting held today i.e. February 27, 2023, inter-alia, declared Interim Equity Dividend for the financial year 2022-23 of Rs. 4.50/- per equity share of Re. 1 each."

The record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Wednesday, March 8, 2023. The interim dividend will be paid to such shareholders on or before Tuesday, March 28, 2023.

2. Marico Ltd Stock Performance & Return

The current market price of Marico is Rs 486.30 apiece with intraday fall of 2.51%. The stock's 52-week high is quoted at Rs 554.05 apiece and 52-week low is Rs 468.65 apiece, respectively.

The large cap stock has a market capitalisation of Rs 62,873.57 crore. The stock declined 1.98% in last 1-year, gave return of 22% in last 2-years, and 58% return in last 3-years.

3. Valuation

According to Motilal Oswal, in its brokerage report date February 4, 2023, "The much-needed diversification is gathering momentum in the Foods and digital-first brands. If sustained, this can lead to higher multiples for MRCO as compared to the past. We maintain our Buy rating on the stock with a TP of INR580 (based on 46xFY25E EPS)."

4. About Marico Ltd

Marico Limited is India's renowned consumer products company operating in the beauty and wellness space. Currently, it has presence in 25 countries across emerging markets of Asia and Africa Marico. It has nurtured multiple brands in the categories of hair care skin care edible oils health foods male grooming and fabric care.

Marico's India business markets household brands such as Parachute, Parachute Advansed, Saffola, Hair & Care, Nihar, Nihar Naturals, Livon Set Wet, Mediker, etc.

Disclaimer

The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.