Positive outlook, with rural areas expected to perform better
Newly launched products and competitive intensity in non-premium products need to be watched
Rural market recovery, premium products will lead to earnings growth
Rural market recovery, premium products will lead to earnings growth
The market ended lower, with the 30-pack Sensex closing at 66,266.82, down 0.66 percent, and the Nifty declining 0.60 percent at 19,659.90. About 1,746 shares advanced, 1,710 declined and 134 remained unchanged
The company had posted a net profit of Rs 248.36 crore in the corresponding quarter of the last financial year, Colgate-Palmolive India Ltd (CPIL) said in a BSE filing.
The company posted a net profit of Rs 274.19 crore in July-September period a year ago, Colgate-Palmolive India Ltd (CPIL) said in a BSE filing.
Trends on SGX Nifty indicate a higher opening for the broader index in India, a gain of 41 points or 0.35 percent. Nifty futures were trading around 11,643-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 23.5 points or 0.22 percent. Nifty futures were trading around 10,855-level on the Singaporean Exchange.
A favorable outcome of the general elections would lead to multiple expansion which can push the Sensex closer to euphoric levels of ~45,000 by the year-end.
Factors fuelling rural growth in FY18 are a normal monsoon, low base effect, increase in MSP, an increase in rural allocation in recent budgets.
JPMorgan upgraded Colgate Palmolive to overweight with a target price of Rs 1,400. The upgrade is led by expectations of volume growth revival to 5-6 percent.
" The daily Relative Strength Index (RSI) of Colgate is showing upward momentum and the MACD is trading with positive crossover whereas +DI just started the journey above –DI," says Abhishek Mondal of Guiness Securities.
KR Choksey recommended accumulate rating on Colgate-Palmolive India with a target price of Rs 1145 in its research report dated October 16, 2017.
JM Financial recommended hold rating on Colgate Palmolive India with a target price of Rs 1135 in its research report dated August 03, 2017.
ICICI Direct recommended hold rating on Colgate Palmolive India with a target price of Rs 1150 in its research report dated July 06, 2017.
Sudarshan Sukhani of s2analytics.com suggests selling Tata Motors and Glenmark Pharma and advises buying Colgate Palmolive.
UBS downgrades Colgate Palmolive India Ltd to "neutral" from "buy", saying the stock has well outperformed the consumer sector since October 1, 2012.