Gillette India falls on termination of agreement with distributor in Bangladesh

Gillette India

25/09/2024 05:28

** Shares of shaving razors maker Gillette India  GILE.NS 
fall 2.8% to 8,524.60 rupees, set for worst day in over a month
    ** Co gets termination notice for agreement from
distributor, Procter & Gamble Bangladesh, effective Dec 31
    ** Adds co will have proportionate drop in net sales under
the agreement that accounted for about 2% of the total net sales
in FY 2023-2024
    ** GILE on track for fifth straight session of losses
    ** GILE down ~4% so far in Sept, set to snap sixth-month
gaining streak
    ** Stock up ~32% so far this year

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))