Marico shares drop 1.37% as Sensex falls

Shares of Marico Ltd. traded 1.37 per cent lower in Wednesday's session at 12:53PM (IST). The stock opened at Rs 499.2 and has touched an intraday high and low of Rs 499.2 and Rs 484.7, respectively, during the session so far.

The stock quoted a 52-week high of Rs 606.0 and a 52-week low of 393.9. About 40,757 shares changed hands on the counter so far.

Benchmark Nifty50 was down 73.65 points at 17241.85, while the BSE Sensex traded 270.1 points lower at 57719.2 at the time of writing of this report.

In the Nifty pack, 22 stocks traded the day in the green, while 28 were in the red.


Key Financials
For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 2429.0 crore, down 0.61 per cent from the previous quarter's Rs 2444.0 crore and down 13.19 per cent from the year-ago quarter. The company reported net profit of Rs 310.0 crore for the latest quarter.

Promoter Holdings
Promoters held 59.51 per cent stake in the company as of 31-Dec-2021, while FIIs held 25.55 per cent and MFs 2.64 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 526.06 on March 23, while the 50-DMA was at Rs 498.63. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.