Buy Colgate-Palmolive (India), target price Rs 1,475: Suruchi Kapoor

Suruchi Kapoor of Edelweiss Financial Services has a buy call on Colgate-Palmolive (India) Ltd. with a target price of Rs 1475.0. The current price of Colgate-Palmolive (India) Ltd. is Rs 1373.0 Time period given by the analyst is 1-3 days when Colgate-Palmolive (India) Ltd. price can reach defined target. . Suruchi Kapoor recommended to keep a stoploss at Rs 1320 .

Colgate-Palmolive (India) Ltd., incorporated in 1937, has a market cap of Rs 37400.74 crore and is operating in FMCG sector.



Investment Rationale

The stock is trading above short term averages and the price is also trading above parabolic SAR, says the analyst.

Financials

For the quarter ended March 31, 2020, the company reported standalone sales of Rs 1062.35 crore, down -6.48 per cent from last quarter sales of Rs 1136.02 crore and down -7.35 per cent from last year same quarter sales of Rs 1146.63 crore. The company reported net profit after tax of Rs 204.15 crore in the latest quarter.

Promoter/FII Holdings

Promoters held 51 per cent stake in the company as of March 31, 2020, while FIIs held 16.19 per cent, DIIs 10.16 per cent and public and others 22.65 per cent.