It is best to Sharekhan buy in defensive stocks during the period of recession and one such stock which has been recommended time and again is Marico on this finance web site. The same at the sake of repetition is again being reminded to you because Sharekhan brokergae house has also come with a hold rating on this Indian stock and has given a target price of Rs 85 for the stock in its July 9, 2009 report.

Sharekhan in its report has stated that they remain bullish about Marico’s prospects. They have further stated that they maintain their earnings estimates but increase their price target for the stock to Rs 85, as they roll their target over based on our 19x FY2011E estimates. However a hold rating has been given as stock has shown a marginal upside from current market price.
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