Colgate-Palmolive's India unit drops on subdued forecast

Colgate-Palmolive (India)

15/05/2024 11:38

** Shares of Colgate-Palmolive (India)  COLG.NS  close 5.2%
lower at 2,672.55 rupees
    ** Personal-care products maker ends as top loser on
consumer goods index  .NIFTYFMCG , which closes 0.9% lower
    ** COLG notes during analyst call that pricing growth will
be lower in FY25, CNBC-TV18 says in social media post
    ** Co adds vols, premiumisation to lead growth next year,
while margin may not see improvement from current levels 
    ** Session ended with nearly 3x 30-day avg. trading volumes
    ** Analysts' avg. rating on COLG is "hold", median TP
2,362.50 - LSEG
    ** Stock has gained 5.7% YTD 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))