 "Dabur India hits record high on delivery based buying")
Dabur India is trading 3% higher at Rs 234, extending its previous day’s about 2% gain, on back of huge delivery-based buying.
Shares of personal products maker had opened at Rs 228 and touched a record high of Rs 235 on the Bombay Stock Exchange (BSE).
Shares of personal products maker had opened at Rs 228 and touched a record high of Rs 235 on the Bombay Stock Exchange (BSE).
On Tuesday, August 26, 2014, about 1.02 million equity shares, representing 90% of the total 1.14 million traded quantity had converted into delivery, the BSE data shows.
Meanwhile, post June quarter results the stock has outperformed the market by surging 20% from Rs 195 on July 24. The benchmark S&P BSE Sensex gained nearly 1%, while S&P BSE FMCG index rose 3.5% during the same period.
“Dabur is set to embark on the journey of urban recovery riding premium urban-focused launches. The company is in a sweet spot with volume growth ahead of most peers due to its huge innovation funnel, higher ad spends and aggressive distribution drive”, says analyst at Edelweiss Securities.
According to a Morningstar India’s Equity Analyst Report dated 30 Jul 2014, despite the increasingly competitive consumer product landscape in India, Dabur should be able to maintain relatively stable operating margins, given its unique positioning as "the" herbal brand.