May 2, 2018 / 4:31 AM / 3 months ago

BUZZ-Dabur India shares hit record high on strong Q4 profit

** Consumer goods company Dabur India Ltd’s shares rise as much as 2.9 pct to 379.95 rupees, a record high

** Q4 profit rose 19 pct to 3.96 bln rupees ($59.36 mln), co said on Tuesday

** Results support optimism of business turnaround with management’s increasing focus on rebuilding top-line growth and growth coming back for overseas ops, JP Morgan analysts say

** JPM rates stock ‘overweight’ with PT of 390 rupees

** If competitive intensity continues to be high in food segment, Dabur could defend market share with higher promotions - Macquarie

** Twenty-four of 37 brokerages rate the stock “buy” or higher, eight “hold” and five “sell” or lower; their median PT is 390 rupees - Thomson Reuters Eikon data ($1 = 66.7075 Indian rupees)

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