Marico's shares rise as core portfolio, international business grow

Company reported one of the highest volume growth among consumer staples players in the September quarter

Continued recovery in Marico’s core portfolio, the scaling up of its foods segment, and improvement in international business have driven shares of the maker of the Parachute and Nihar hair oil brands to an all-time high. The stock touched Rs 420.50 this month, and is currently around Rs 401.

Marico surprised the Street after reporting one of the highest volume growth rates of 9 per cent among consumer staples players in the September quarter (Q2). This demand momentum, which comes after three consecutive quarters of negative volume growth, is seen continuing in the quarters ahead as consumer spending on discretionary items