Marico shares surge over 2% on posting high single digit revenue growth in Q2
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Shares of Marico jumped 2.4% to its day’s high of Rs 710 on the BSE following its second-quarter update, where it said the domestic business posted mid-single digit volume growth, exhibiting improvement on a sequential basis. Amid the negative market sentiment, the stock went up and is currently inching towards its all-time high of Rs 713. The company expects consolidated revenue growth to move into double digits in the second half of the year. Parachute coconut oil posted close to mid-single digit volume growth, partially impacted by ml-age reduction in one of the key price-point packs in lieu of a price increase. The brand recorded double-digit revenue growth, aided by pricing interventions made at the start of the year. It has taken another round of price increase at the end of this quarter given the sequential rise in copra prices. Saffola Oils posted low single digit revenue growth, while the pricing cycle for the brand turned slight...