Colgate-Palmolive (India) is weak on Monday, in an otherwise zooming market. The stock is down 0.6% to Rs 1266.35 at 1107hrs on Bombay Stock Exchange (BSE) after turning ex-dividend today. The compnany declared a second interim dividend of Rs 9-a-share for the current financial year.
The stock remained added 3.7% against Sensex's 8.96% upmove in the last quarter.
The stock offered a dividend yield of 0.71% based on the closing price of Rs 1,274 6 December 2013, before turning ex-dividend.
The FMCG major's net profit declined 24.5% to Rs 110 crore on 16% growth in net sales to Rs 896 crore in Q2 September 2013 over Q2 September 2012.
So, should you be adding positions or getting out of the counter. Kunal Bothra, Technical Analyst at LKP Securities shares his views on the counter. Also, he speaks on where the market is headed after a super gap-up opening.
SmartInvestor: How should one trade the benchmarks today and the key levels to watch out for. Should one buy Nifty at these levels? Many expect the index to hit 6700 levels
Kunal Bothra:I think now the euphoric mood will begin for the markets, and since it has come after a long tiring struggling period of more than 5 years, the markets needs to rejoice this likely uptrend. I think placing a target is not the right strategy when the Nifty has clearly broken after a longterm consolidation zone. But I think at this point latching on to stronger stocks which are showing better potential is the strategy which needs to be adopted.
SmartInvestor: What is your strategy for Bank Nifty. Is it ok to go long?
Kunal Bothra:Yes going long would be an ideal strategy. They have underperformed the benchmark index by double digit margin since the last few months. I think this is a sector with strong potential going forward. Buying on dips in many banking names such as Axisbank, ICICI Bank, Oriental bank, Kotak Bank.
SmartInvestor: What are BSE capital goods index looking on the charts. Your take on L&T
Kunal Bothra:Capital goods stocks are doing well since last few weeks, with L&T leading the rally. I think stock is now on a strong uptrend and breaking 1200 could be very likely in the short term. Supports should now be placed at 1080.
SmartInvestor: Colgate-Palmolive (India) slipped in early trades in an otherwise surging market, after turning ex-dividend today. Your view
The stock remained added 3.7% against Sensex's 8.96% upmove in the last quarter.
The stock offered a dividend yield of 0.71% based on the closing price of Rs 1,274 6 December 2013, before turning ex-dividend.
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So, should you be adding positions or getting out of the counter. Kunal Bothra, Technical Analyst at LKP Securities shares his views on the counter. Also, he speaks on where the market is headed after a super gap-up opening.
SmartInvestor: How should one trade the benchmarks today and the key levels to watch out for. Should one buy Nifty at these levels? Many expect the index to hit 6700 levels
Kunal Bothra:I think now the euphoric mood will begin for the markets, and since it has come after a long tiring struggling period of more than 5 years, the markets needs to rejoice this likely uptrend. I think placing a target is not the right strategy when the Nifty has clearly broken after a longterm consolidation zone. But I think at this point latching on to stronger stocks which are showing better potential is the strategy which needs to be adopted.
SmartInvestor: What is your strategy for Bank Nifty. Is it ok to go long?
Kunal Bothra:Yes going long would be an ideal strategy. They have underperformed the benchmark index by double digit margin since the last few months. I think this is a sector with strong potential going forward. Buying on dips in many banking names such as Axisbank, ICICI Bank, Oriental bank, Kotak Bank.
SmartInvestor: What are BSE capital goods index looking on the charts. Your take on L&T
Kunal Bothra:Capital goods stocks are doing well since last few weeks, with L&T leading the rally. I think stock is now on a strong uptrend and breaking 1200 could be very likely in the short term. Supports should now be placed at 1080.
SmartInvestor: Colgate-Palmolive (India) slipped in early trades in an otherwise surging market, after turning ex-dividend today. Your view
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