February 12, 2018 / 4:34 AM / 3 months ago

BUZZ-India's Marico jumps on Q3 results

** Shares of Marico Ltd surge as much as 3.5 pct to 307.7 rupees, their highest since Feb 2

** Stock posts biggest intraday pct gain since Nov, 2017

** Consumer products maker reported 17 pct jump in Dec-qtr consol profit on Friday

** Credit Suisse (CS) cites higher-than-expected margins despite steep input cost inflation and drop in tax rates as main reasons for co reporting earnings ahead of estimates

** CS maintains ‘Neutral’, but raises TP to 330 rupees from 310 rupees

** Believes Q4 will see peak of gross margin impact from rising copra prices - CS

** Key positive in Q3 is strong performance in domestic coconut oil segment - Morgan Stanley

** Up to Friday’s close, stock had fallen 7.8 pct this year

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