Colgate Palmolive preferred pick: Gautam Chhaochharia

Gautam Chhaochharia, Head of India Research at UBS Securities told CNBC-TV18, "Colgate Palmolive is a preferred pick in consumer space. We also like ITC in that space. Longer term consumption is still a great business. It is just a tactical portfolio call from next one year perspective."

At 12:06 hrs Colgate Palmolive (India) was quoting at Rs 2,103.25, down Rs 21, or 0.99 percent. It has touched an intraday high of Rs 2,125.60 and an intraday low of Rs 2,095.20.