Godrej Consumer Products drops on profit booking

Godrej Consumer Products lost 3.05% to Rs 1,071.95 at 9:57 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 111.37 points or 0.41% at 27,153.95.

On BSE, so far 7,383 shares were traded in the counter as against average daily volume of 13,000 shares in the past two weeks.

The stock hit a high of Rs 1,112.50 and a low of Rs 1,067.10 so far during the day. The stock had hit a 52-week low of Rs 672 on 27 January 2014. The stock had hit a record high of Rs 1,117.60 on Tuesday, 9 September 2014.

Shares of Godrej Consumer Products had rallied 8.87% in two trading sessions to settle at Rs 1,105.65 on Tuesday, 9 September 2014, from a recent low of Rs 1,015.50 on 5 September 2014.

On a consolidated basis, Godrej Consumer Products' net profit rose 8.1% to Rs 143.45 crore on 9.5% growth in net sales to Rs 1886.26 crore in Q1 June 2014 over Q1 June 2013.

Godrej Consumer Products is a major player in the Indian FMCG market, with leading household and personal care products. It is one of the largest marketeers of toilet soaps in the country and is also a leader in hair colours and household insecticides. It has a strong emerging presence in markets outside India.

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