Godrej Consumer Products gains on bargain hunting

Godrej Consumer Products rose 2.14% to Rs 728.95 at 11:41 IST on BSE, with the stock gaining on bargain hunting after the recent decline.

Meanwhile, the S&P BSE Sensex was up 82.31 points or 0.38% at 21,908.73

On BSE, so far 5,083 shares were traded in the counter as against average daily volume of 33,339 shares in the past one quarter.

The stock hit a high of Rs 731.95 and a low of Rs 710 so far during the day. The stock had hit a record high of Rs 977.40 on 18 July 2013. The stock had hit a 52-week low of Rs 672 on 27 January 2014.

The stock had underperformed the market over the past one month till 11 March 2013, falling 0.29% compared with the Sensex's 7.18% rise. The scrip also underperformed the market in past one quarter, sliding 13.24% as against Sensex's 3.09% rise.

The large-cap company has equity capital of Rs 34.03 crore. Face value per share is Re 1.

Shares of Godrej Consumer Products had declined 9.57% in seven trading days to Rs 713.65 on 11 March 2014 from a recent high of Rs 789.25 on 28 February 2014.

Godrej Consumer Products' consolidated net profit rose 13.7% to Rs 195.77 crore on 16.8% growth in net sales to Rs 1978.88 crore in Q3 December 2013 over Q3 December 2012.

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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