India's Marico up; sees double-digit Q2 revenue growth
BUZZ-India's Marico up; sees double-digit Q2 revenue growth ** Shares of Marico MRCO.NS rise as much 4.2% to 814 rupees, last up 1.4%
** Stock set to snap a six-day losing streak, if gains hold
** Consumer goods maker expects Q2 consolidated revenue to grow by double-digit percentage points, aided by strong domestic demand for its premium products
** India business delivers underlying volume growth touching double digits - MRCO
** Company's international business posts growth in the teens on a constant-currency basis, led by strong performance in Vietnam, the Middle East and South Africa, with Bangladesh seeing a modest sequential improvement
** The cost of copra, a key raw material for Marico, remained about 35% below peak level - MRCO
** YTD, stock up 5.6% vs a 20.6% decline in the NIFTY FMCG .NIFTYFMCG
(Reporting by Puyaan Singh in Bengaluru)
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