India's Godrej Consumer Products rises on strong second-quarter outlook
BUZZ-India's Godrej Consumer Products rises on strong second-quarter outlook ** Shares of India's Godrej Consumer Products GOCP.NS rise 2.8% to 860.90 rupees
** Stock on track to snap five-session loss streak
** Consumer goods maker expects second-quarter consolidated revenue to rise in high-teens percentage, volume growth to rise in high-single-digit and double-digit EBITDA growth
** Says performance supported by strong demand for personal and home care products despite impact from trade inventory correction
** Nomura ("buy", 1,110 rupees PT) says brand investment and new launches to support medium-term growth; remains cautious of higher spending
** Notes Q2FY27 consolidated revenue growth of 17% YoY and EBITDA growth of 12.5% YoY, higher than brokerage estimates
** Stock rated "buy" on avg by 33 analysts, with median PT of 1,210 rupees - data compiled by LSEG
** Stock down 29.55% YTD
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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