Stocks to Buy: Analysts suggest this FMCG stock for short-term gain | Note down target price

Stocks to Buy: The stock market opened weak on Thursday, July 18. Amidst this sluggish market, many quality stocks appear attractive on technical charts. Brokerage Motilal Oswal Financial Services Limited has selected FMCG stock Marico as a short-term technical pick, advising investors to take a position for 2-3 days.

The domestic stock market showed weakness during the weekly expiry of Nifty on Thursday. Sensex opened over 200 points down at 80,496, Nifty opened below 24,600, and Nifty Bank opened 181 points down at 52,215. Two-wheeler stocks like TVS Motors and Bajaj Auto exhibited weakness, while IT stocks provided some support to the market.

Marico Share Price Target

Brokerage Motilal Oswal Financial Services (MOFSL) has set a target price of Rs 700 for Marico over the next 2-3 days. The stock closed at Rs 666.35 on July 17, 2024, indicating a potential jump of 5-6 per cent from the closing price.

Marico's Share Price Performance This Year

Marico started trading higher on Thursday, rising more than 2 per cent in early trade. Over the last year, the stock has returned about 28 per cent, climbing 30 per cent (approx.) in the past six months, more than 34 per cent in the past three months, and 9 per cent in the past month. In today's session, Marico reached its 52-week high of Rs 684.90 on BSE. While the 52-week low is Rs 486.75. The company's market cap exceeds Rs 88,035 crore.