India's Godrej Consumer Products rises; ICICI Securities upgrades to "buy"

ICICI Securities

27/12/2023 09:14

** Shares of Godrej Consumer Products  GOCP.NS  up as much as
2.3% to 1,118 rupees
    ** ICICI Securities upgrades stock to "buy" rating; raises
price target to 1,260 rupees from 1,050 rupees 
    ** Brokerage says efforts have been made to enhance co's
performance in India, focusing on category development and to
achieve near double-digit underlying volume growth
    ** Personal wash (soaps) category continues to gain volume 
market share gains with brand traction getting stronger - ICICI
    ** Anticipated high-double-digit volume growth in categories
like hair color, air care, liquid detergent, and deodorants -
ICICI
    ** Stock touches highest level since Sept. 16, 2021; on
track for a fourth consecutive session of gains, if trends hold 
    ** Average rating of 32 analysts tracking the stock is
"buy", median PT is 1,150 rupees- LSEG data

    
    
    

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))