Procter & Gamble at record high on Crest launch plans

Procter & Gamble Hygiene & Healthcare has moved up to a fresh all-time high at Rs 2,000 - up 3%, on reports that the company plans to launch its global toothpaste brand Crest. The stock opened at Rs 1,965 is currently trading around the day's high on the BSE.

“The FMCG giant had already given the manufacturing contract to JHS Svendgaard Laboratories, which makes oral care products for companies such as Dabur, Himalaya and Cipla, among others” according to the reports. Though P&G had planned to launch Crest in 2005, it did not do so.

Crest is considered to be one of the largest oral care brands in the world. With its launch, P&G is set to take on the country’s oral care market leaders such as Colgate Palmolive, Hindustan Lever and Dabur, which together control 90% of the Indian market, estimated to be around Rs 16,000 crore.

P&G manufactures personal & beauty care and healthcare products. The company's products include menthol, dementholised peppermint, personal care products, and toilet preparations.