Sell Godrej Consumer Products, says Varun Lohchab

Varun Lohchab, Regional Head of Consumer at CIMB Equities told CNBC-TV18, "Godrej Consumer Products numbers especially on the domestic front were quite soft. This time it was more due to household insecticides being very muted. They are sort of a seasonal category, so delayed monsoons did impact the category and their growth.”

"However, even otherwise we believe their international business performance also tends to be a bit volatile sometime hit by the currency moves. Even African and Latin performance has been a bit patchy. So, we have maintained a reduce rating. We have had a sell on the stock for sometime now more due to valuations. We have continued with that and we believe risk reward is still not favourable from the next 12 months perspective on that stock," he added.