Sluggish volumes likely to cap upsides in Colgate-Palmolive stock

The Colgate-Palmolive (India) stock gained 2.3 per cent in trade on Friday, and ended at Rs 2,079 per share. This was on the back of a robust operating performance in the July-September quarter of 2023-24 (Q2FY24) and expectations of gradual sales recovery going ahead.

While the stock is up 44 per cent from its lows in January this year, further gains will depend on its ability to sustain higher growth rates.

Most brokerages are cautious on the stock given the run-up in the stock prices and don’t see immediate upsides. 

Operating performance stood out in the September quarter