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Shares of Dabur India climbed as much as 2.8 per cent to Rs 353.6, their highest since February 2, i.e. near 11-week high.
CLSA says outlook for consumer staple firms are improving with the forecast for normal monsoon in 2018 and high likelihood of a big increase in government's support prices for agricultural produce.
Pressures from Patanjali Ayurved, which impacted the market shares of rivals, also seem to have eased. CLSA says Dabur, and Emami Ltd are among the top picks. It has rated the stocks as “buy”.
CLSA also raised Dabur price target to Rs 415 from Rs 400.
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