Dabur India stock has seen an upward trend today and the stock closed at 602 level with a gain of 1.66 percent. The previous close of the stock was at 592.
Dabur reached the high level of 2022
Dabur’s stock has seen a sharp rise today and the stock has reached the highest level of the year. However, if market experts are to be believed, further growth in the stock is expected. Global research firm Morgan Stanley today upgraded Dabur India and revised its target. Due to which the stock has benefited. According to the firm, better signals are being seen from rural areas and Dabur Will get the benefit of this hope of recovery. If you are also planning to invest in Dabur India, then know what are the targets given by Morgan Stanley for the stock.
Dabur reaches new high of the year
Dabur India stock has seen an upward trend today and the stock closed at 602 level with a gain of 1.66 percent. The previous close of the stock was at 592. The stock hit a day’s high of 610 during the trade, which is a 52-week high for the stock. The stock is seeing a boom since November 22 and during this period the stock has increased from 546 level to 600 level today. That is, the stock has increased by more than 10 percent during this period. The stock has underperformed as compared to the market. Sensex has gained more than 5 percent in the year so far, while Dabur India has been able to get only 3.5 percent return in the year even after the recent boom.
What is Morgan Stanley’s forecast?
According to the research firm, conditions are going to get better for Dabur India in the coming times. In view of this, the firm has raised its estimate for the stock to 660 from 578. That is, from here also an increase of 10 percent can be seen in the stock. According to the firm, there are still clear signs of recovery from rural areas, but there are strong indications that the weakness in rural demand for the last 4 quarters has now stopped. It is expected that recovery will also start soon. In such a situation, companies like Dabur, whose business is clearly affected by the demand of rural areas, can remain profitable in future.