JM Financial picks Marico, Honasa, GCPL, VBL as Q4FY26 staples favourites; lone Reduce on Nestle
Brokerage calls Q4FY26 staples stable with 3-7% price hikes; Buys six names including Bikaji (TP Rs 755), Britannia (Rs 6,355), GCPL (Rs 1,225), Marico (Rs 930), VBL (Rs 600). Adds HUL (Rs 2,435), ITC (Rs 325), Dabur, TCPL, Colgate. Nestle a Reduce on stretched 52x NTM PE.
What happened
ITC · JM Financial's Q4FY26 consumer staples update calls the quarter stable, prefers Marico, Honasa, GCPL and VBL; issues Buy on six FMCG names, Add on
Key facts
- NTM PE 52x
- price hikes 3-7%
- Bikaji TP Rs 755
- Britannia TP Rs 6,355
- GCPL TP Rs 1,225
- Honasa TP Rs 420
- Marico TP Rs 930
- VBL TP Rs 600
- Colgate TP Rs 2,275
- Dabur TP Rs 505
- HUL TP Rs 2,435
- ITC TP Rs 325
- TCPL TP Rs 1,250
- Nestle TP Rs 1,345
Why this matters
Honasa's inclusion alongside legacy staples blue-chips hints at digital-first FMCG legitimacy—watch for partnership or bolt-in interest from HUL, Marico or GCPL as category lines blur.