Godfrey Phillips India corrects on profit selling

Godfrey Phillips India fell 3.45% to Rs 1269.85 on profit selling after recent sharp gains.

Shares of Godfrey Phillips India surged 15.54% in the past seven sessions.

On a year-to-date (YTD) basis, the stock has zoomed 40.22% while the benchmark Sensex has added 27.03% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 51.85. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1224.31, 1207.67 and 1249.50, respectively.

On a consolidated basis, net profit of Godfrey Phillips India rose 1.47% to Rs 104.94 crore on 9.20% decline in net sales to Rs 631.89 crore in Q2 September 2021 over Q2 September 2020.

Godfrey Phillips India makes some of the most popular cigarette brands in the country like Four Square, Red and White, Cavanders, Tipper and North Pole. It also manufactures and distributes iconic brand Marlboro under a license agreement with Philip Morris. It has expanded business interests in chewing products, mouth fresheners, confectionery and retail.

Powered by Capital Market - Live News