Buy Colgate-Palmolive (India), target price Rs 2200: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on Colgate-Palmolive (India) with a target price of Rs 2200. The current market price of Colgate-Palmolive (India) is Rs 2089.2.
Colgate-Palmolive (India) Ltd., incorporated in the year 1937, is a Large Cap company (having a market cap of Rs 56539.01 Crore) operating in FMCG sector.

Colgate-Palmolive (India) Ltd. key Products/Revenue Segments include Personal Care, Service Income and Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2023, the company has reported a Standalone Total Income of Rs 1338.64 Crore, down -2.36 % from last quarter Total Income of Rs 1370.98 Crore and up 10.78 % from last year same quarter Total Income of Rs 1208.35 Crore. Company has reported net profit after tax of Rs 273.68 Crore in latest quarter.

Investment Rationale
Momentum indicator MACD has provided a bullishcrossover as well, hence bulls have an upper hand.

Promoter/FII Holdings
Promoters held 51.0 per cent stake in the company as of 30-Jun-2023, while FIIs owned 21.8 per cent, DIIs 7.19 per cent.