Buy Dabur India, target price Rs 550: ICICI Securities

ICICI Securities has given a buy rating to Dabur India with a target price of Rs 550. The share price moved up by 0.74 per cent from its previous close of Rs 515.60. The stock’s last traded price is Rs 519.40.
Dabur India Ltd., incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 91110.14 Crore) operating in FMCG sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 1979.98 Crore, up 6.14 % from last quarter Sales of Rs 1865.36 Crore and down -12.90 % from last year same quarter Sales of Rs 2273.29 Crore Company reported net profit after tax of Rs 341.29 Crore in latest quarter.

Investment Rationale
Stock at the cusp of breakout above the upper band of the last seven months consolidation range (525-440) and MACD in buy mode

Promoter/FII Holdings
Promoters held 67.9 per cent stake in the company as of June 30, 2020, while FIIs held 17.6 per cent, DIIs 7.4 per cent and public and others 7.1 per cent.