India's Bajaj Consumer Care "likely to see better FY24" - Nuvama

Bajaj Consumer Care

20/07/2023 07:50

** Shares of Indian fast-moving consumer goods company Bajaj
Consumer Care  BACO.NS  rise as much as 2.09% to 210 rupees 
    ** Rating house Nuvama Research upgrades co to "buy" from
"hold"; raises TP to 258 rupees from 173 rupees 
    ** Expects co to clock 8% volume growth in Q1FY24, core
profit to climb 32% Y/Y
    ** Brokerage adds, co's other businesses, including
international, to grow faster than its almond drops hair oil
(ADHO) segment 
    ** Also adds, hair oil market in India not declining
anymore, long-term outlook positive and co leveraging
opportunities 
    ** 6 analysts out of 9 recommend "buy"; 1 rates "hold" while
2 suggest "sell"; median TP 200 rupees - Refinitiv data 
    ** More than 512,993 shares change hands by 12:18 p.m. IST,
0.7X 30-day avg 
    ** Including session's gains, stock up about 27% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))