Buy Dabur India, target price Rs 650: Reliance Securities

By Et Markets Com8 days ago

Reliance Securities has a buy call on Dabur India with a target price of Rs 650 for a duration of 6 weeks. The current market price of Dabur India is Rs 539.4. Reliance Securities recommended to keep a stop loss at Rs 488.

Dabur India Ltd, incorporated in the year 1975, is a Large Cap company with a market cap of Rs 95158.18 Crore, operating in FMCG sector.

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Dabur India's key Products/Revenue Segments include Personal Care, Other Operating Revenue and Scrap for the year ending 31-Mar-2020.

Investment Rationale

Dabur has been in a consolidating mode since Mar20 and faced stiff resistance at Rs 525 level, said Raliance Securities. It added, this consolidation has unfolded into an ascending triangle, which has now posted a breakout on the higher side. Ascending triangle is expected to act as continuation pattern, which suggests that the prices would oscillate into uncharted territory.

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