Dabur India share price was up over 3% intraday on July 31, a day after the FMCG company reported a net profit of Rs 341.8 crore for the quarter ended June 2020, registering a 5.9% YoY decline as lockdown dented its business.

 Revenue from operations for the quarter stood as Rs 1980 crore, down 12.9%, compared to Rs 2273.3 crore reported in the corresponding period last year.

 Domestic volume declined by 9.7% for April-June period 2020 but was ahead of the CNBC-TV18 analysts' estimates of a 14-15% decline.

 The stock price has seen a steady rise in the last 1 month and was trading at Rs 508.20, up to Rs 15.60, or 3.17% at 10:35 hours. It has touched an intraday high of Rs 511.95 and an intraday low of Rs 492.

The Healthcare business grew by 29.2% YoY to Rs 532 crore, but the home and personal care segment registered a 14.9% decline YoY at Rs 679 crore and the foods division saw a 34.4% fall at Rs 203 crore in June quarter 2020, company added.

 "Domestic FMCG business saw a decline of 6.9% due to the lockdown in April and international business saw a decline of 21.6%, as a result, overall volume declined by 9.7%," said Dabur in its BSE filing.

 Shrikant Chouhan Executive Vice President, Equity Technical Research at Kotak Securities, is of the view that for the bulls, Rs 500 would be an important breakout level to watch. "We can expect quick uptrend rally towards Rs 518," he said