Hold Colgate Palmolive, says Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "In Colgate Palmolive the view has to be a little bit long-term. The numbers were better than what the street was expecting. So the volume degrowth at 5 percent was better than expectations of 6-8 percent degrowth. And even on the operational front, it has posted a very reasonable set of numbers, so the operating margin is 22.7 percent, year-on-year comparison at 20.8 is very impressive."

"Secondly, in terms of having a market leadership position in the oral care market in India whether that is toothbrushes, toothpastes, has maintained that share with around 54 percent. And though it lost 180 odd basis points to Patanjali, my own sense is that with the kind of distribution network that Colgate has, the mode that it has created, it is extremely positive with a long-term view. So hold recommendation would warrant at this point of time. With a cash rich balance sheet and earnings expected to grow at a very steady pace," he added.