Brokerages expect Colgate-Palmolive (India) to post gradual volume growth

Colgate-Palmolive (India)

23/08/2023 08:26

** Toothpaste-maker Colgate-Palmolive (India)  COLG.NS  said
in an analyst meet that it aims to increase consumption by
changing consumer behaviour 
    ** Currently about 20% of urban households brush twice daily
and 55% of rural households does not brush every day, according
to the co 
    ** IIFL Securities says changing consumer behaviour would be
a slow process
    ** Nirmal Bang sees no evidence that toothpaste usage is
likely to grow at a rapid pace compared with the past
    ** Adds market share losses over the past decade have also
been steep and there is no sign of the company recouping lost
share
    ** Launch of premium products will benefit in long term
only: brokerage Prabhudas Lilladher
    ** Shares of COLG up 1.3% at 1,965 rupees
    ** Mean rating on stock of 32 analysts is "hold"; median PT
is 1,869 rupees - Refinitiv data
    ** Including session's move, stock up 28% YTD

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))