Rights issue hope lifts Godrej Consumer

DALAL STREET SPIKES

Godrej Consumer Products gained about 6 per cent from its previous close of Rs 122.10 to end the day at Rs 128.95. The total volumes traded on the counter amounted to about 1.6 lakh shares.

The stock touched an intraday high of Rs 135.80. The rally followed the company's announcement of a board meeting to consider a rights isue. The stock has been trading in the range of Rs 122-135 over the past month.