For the third consecutive session, Dabur India's shares dropped to a new 52-week low on Tuesday. Dabur India's share price dropped to Rs 489 from the previous closing of Rs 495.25, a decrease of 1.26%. In early trade today, the shares began slightly higher at Rs 495.75. The FMCG company's market value dropped to Rs 89,115 crore.
In the past two sessions, the stock has closed lower. The stock of Dabur is now trading in an oversold area, as shown by its declining Relative Strength Index (RSI) at 29.5. A relative strength index (RSI) of less than 30 suggests an oversold market, while an RSI of more than 70 indicates an overbought market.
At now, the Dabur stock is trading below the 200-day, 100-day, 50-day, and 5-day moving averages.
The stock of Dabur India has dropped 10% since the start of the year and 5% over the course of a year. The company's market capitalization was Rs 88,788 crore. A total of 0.33 lakh shares were exchanged, resulting in a Rs 1.62 crore turnover.
Nuvama Institutional Equities anticipates that the stock will hit Rs 680. It has kept the stock as a BUY call with a target price of Rs 680.
International trade will increase by double digits annually. Dabur must continue to perform at the top of the industry for the stock to rerate. Nuvama maintained a "BUY" rating with a target price of Rs. 680.
It predicts lower operational profitability in Q4 of this year.
"We anticipate a 5%/9% YoY growth in consolidated sales and EBITDA, and a 2.5% YoY reduction in PAT. Since inorganic revenue growth of 2.3% till December 23 is now in base due to the Badshah acquisition, consolidated revenue growth is probably going to be lower than Q3. Domestic business will expand 3.5%/3.5% YoY in terms of volume and value. According to Nuvama, international commerce will expand 11% YoY in CC terms but 5% in INR terms.
Emkay Global Financial Services anticipates that the stock will reach Rs 660.
Dabur India is anticipated to have a 5% topline rise, with a 5% increase in domestic revenue and a 4% increase in volume. While growth in foreign income is predicted to be in the double digits in constant currency, the depreciation of Turkish and Egyptian currencies is predicted to have a mid-single digit impact on translated growth. EBITDA/PAT growth is anticipated to be 8%, according to Emkay Global.
