Godrej Consumer share price climbs 2% after CLSA maintains outperform call

Date - 17/07/2020
Source - Moneycontrol

While COVID-19 provides an opportunity for a turnaround, the company needs better execution for it, the brokerage has said.

Godrej Consumer Products share price climbed about 2 percent in the morning trade on BSE on July 17 after global brokerage firm CLSA maintained 'outperform' call on the stock with a target price of Rs 715.

As per CNBC-TV18, CLSA expects Godrej Consumer's sales and earnings CAGR at 8 percent and 13 percent during FY20-23.

While COVID-19 offered an opportunity for the turnaround, the company needed better execution, CLSA said.

Godrej Consumer Products has extended its hygiene portfolio to cover personal, home, and kitchen categories to cater to the increasing demand for these products amid the coronavirus outbreak

The company has launched 14 products, including soaps, face masks, fruit veggie wash and dish wash, under three broad hygiene categories.

After manufacturing its first soap in 1918 during the Spanish Flu pandemic, becoming the first firm in the world to produce soap using vegetable oil instead of animal fat, Godrej Consumer Products is looking at 2020 as its "second beginning", company's executive chairperson Nisaba Godrej has said.

Godrej described COVID-19 pandemic as "health, humanitarian and economic crisis of epic proportions to contend with" for which the business would "need to do more of what we do and do it even better" while addressing shareholders in the annual report for 2019-20.

Comments

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...

Taking Stock | Profit-booking pulls Nifty below 14,450; Sensex drops 549 points

All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...

Similar to 2020, D-Street is at record high ahead of Budget 2021; will history repeat itself?

Experts are of the view that a repeat of 2020 or what happened in March might not be possible but some consolidation cannot be ruled out. Back in March when everyone wanted to write-off 2020 from their books, hope and liquidity supported markets and investor sentiment. Nobody thought that after touching a 3-year low in March 2020, benchmark indices would give double-digit returns by the end of the year. The S&P BSE Sensex and Nifty50 rallied by about 15 percent in 2020 and the big outperformance came from the small and midcap stocks. The rally is still continuing in 2021. The S&P BSE Sensex, which climbed Mount 49K, is up over 3 percent while the Nifty50 is up over 4 percent so far in January. Sensex scaling the 49,000-mark and Nifty50 touching 14,500 levels ahead of the Budget 2021 could make anyone cautious about the strength of the rally. Back in January 2020, both Sensex and Nifty touched fresh highs ahead of Budget, and then the market fell like a pack of cards. The ...

SD Solutions

Search This Blog