Shares of Colgate Palmolive India was down nearly 1 percent as brokerage house Jefferies has put hold rating on the stock with a price target of Rs 1025.
According to firm the company could continue to lose its market share to Patanjali and Dabur India.
It expect that the volumes, revenue and EPS of the company is likely to grow at CAGR of 4.5 percent, 8 percent and 10 percent respectively over FY17-20.
The company’s board meeting will be held on October 16 to take on record and approve the unaudited financial results for the quarter and half year ending September 30, 2017.
The board will also consider and declare the first interim dividend for the financial year 2017-18.
The trading window of the company shall remain closed from September 30, 2017 until 48 hours of the approval of the results.
Over the last nine-month the share price increased by 21 percent.
At 10:02 hrs Colgate Palmolive (India) was quoting at Rs 1,087.85, down Rs 0.40, or 0.04 percent on the BSE.
The share touched its 52-week high Rs 1,175.50 and 52-week low Rs 892.80 on 13 September, 2017 and 27 December, 2016, respectively.
Posted by Rakesh Patil
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