Marico share price touches 52-week high as Credit Suisse raises target price

Live bseVolume Todays L/H - nse Live Volume TodaysMarico shares reached a 52-week high price of Rs 532.60. This was nearly 5 percent more than the previous day, when Marico's target price rose to Rs 600 per share from Rs 490 earlier.Credit Suisse says that the company is one of the most successful TAM expansions, if the FY24 target for Saffola revenue is met.It said that Saffola Foods will achieve Rs 740 crore in revenue in FY24, and that Rs 850 crore food target will be met by one additional category.To achieve its revenue target, the company must increase honey and soya chunk production faster.Live blog: Catch all the action in the marketThe FY22 EPS estimate of the broking company was lowered by 2% because of near-term margin pressures. However, Saffola Foods expansion could drive a revaluation in the company.Marico quoted Rs 531.70 at 11:15 hrs. This was up Rs 23.15 or 4.55 percent from the BSE.The trailing 12-month (TTM), EPS for the company was Rs 8.56 per sen. The stock's price/earnings ratio (P/E), was 62.11. The company's latest book value is Rs 35.51 per share.The company's price-to-book ratio was 14.97 at current value. The company's dividend yield was 1.41 percent.