Colgate-Palmolive surges on foreign brokerage upgrade

Colgate-Palmolive (India) rose 4.1% to Rs 990.50 at 12:51 IST on BSE on reports a foreign brokerage has upgraded the stock to outperform from neutral and revised target price on the stock to Rs 1,150 from Rs 1,100 earlier.

Meanwhile, the S&P BSE Sensex was down 78.74 points or 0.29% at 27,351.54.

On BSE, so far 1.78 lakh shares were traded in the counter as against average daily volume of 30,907 shares in the past one quarter. The stock hit a high of Rs 1,031.60 and a low of Rs 972 so far during the day. The stock had hit a 52-week high of Rs 1,032.85 on 8 August 2016. The stock had hit a 52-week low of Rs 787.60 on 24 May 2016. The stock had underperformed the market over the past one month till 3 November 2016, sliding 3.23% compared with 2.88% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 1.41% as against Sensex's 0.96% fall.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Rs 1.

Colgate-Palmolive (India)'s net profit rose 15.6% to Rs 181.31 crore on 9.4% growth in net sales to Rs 1048.32 crore in Q2 September 2016 over Q2 September 2015.

Colgate-Palmolive (India) makes oral care products.

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