Colgate-Palmolive India hits record high on Q1 profit rise

Varun Beverages

30/07/2024 05:22

** Shares of Colgate-Palmolive (India)  COLG.NS  jump 6.2%
to a record high of 3,410 rupees
    ** The personal-care products maker is top gainer on Nifty
FMCG index  .NIFTYFMCG , which is up 0.4% 
    ** Co posted a 33% rise in Q1 profit, sales rose 13%
    ** Analysts' avg. rating is "hold", median TP 2,800 - LSEG
    ** Stock last up 5.5%, set for fourth straight session of
gains and taking YTD jump to 34.4%
    ** That is 2nd best on 15-member FMCG index, only trailing
Varun Beverage's  VARB.NS  ~36% rise; index itself is up ~10%
    ** COLG's fwd PE of 54 is 6th lowest among index members,
whose PE's range from VARB's 71.6 to Balrampur Chini  BACH.NS 
16.5

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.das@thomsonreuters.com))