Colgate Palmolive good pick for long term: Mehraboon Irani

Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "Colgate is a part of our core holding irrespective of what the price is. It could be looking expensive at Rs 940 in terms of valuation. But Colgate, Glaxo Consumer in the FMCG pack are stocks are honestly which we don't track on a day to day basis because this is the part of our core holding. We just don't touch it. It has given super returns over the last 10 years. If you see maybe 5-7 times in the last 10 years and at the present price also if somebody buys into it he/she is not going to lose money, he is going to gain money.""The only thing is because its ex-bonus you could see some selling pressure from people who try to take the tax shelter at the bonus issue. So, the stock may not do too many things at the present level and the present valuation but over the longer term certainly this is one of the best pick in the FMCG segment.""HUL would come in the top seven, but the top two would be Glaxo Consumer and Colgate," he said.