Morgan Stanley upgrades Marico to overweight, cuts Dabur, Godrej Consumer

Marico gained 1.1 per cent after Morgan Stanley upgraded the stock to "overweight" from "equal-weight".

Meanwhile, the financial services major downgraded Dabur India and Godrej Consumer Products to "equal-weight" from "overweight".

"Our stock selection criteria continue to favour earnings momentum and relative value," the investment bank said.

Marico is attractive at 18 per cent below Dabur and in line with its last 4 years' average price-to-earnings valuation, it added.

Shares of Marico closed at Rs 289.95 a piece, up 8.8 points (or 3.13 per cent) on Monday at the Bombay Stock Exchange (BSE).

(Reuters)