Gillette India jumps over 5%, brokerage sees growth prospects

Gillette India

23/06/2023 08:26

** Shares of Gillette India  GILE.NS  rise as much as 5.52%
to 4,838.95 rupees; sharpest intraday pct gain since Aug. 22
    ** Growth in female grooming products, entry into electric
shaving products, potential premiumisation in toothbrushes can
transform co's growth prospects- Nirmal Bang analysts
    ** Brokerage's channel checks, customer surveys indicate
healthy traction and brand recall in female grooming sub-segment
for Gillette; maintains "buy" rating, raises PT to 5,550 rupees
from 5,380 rupees
    ** Share price above 50-day, 100-day and 200-day exponential
moving averages, suggesting bullish trend
    ** Relative strength index above 70, indicating it is
overbought
    ** More than 47,000 shares change hands by 12:43 p.m. IST,
2.2x 30-day avg
    ** Including session's gain, stock trims some of its losses,
last down ~3.9% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))