Buy Colgate-Palmolive, target price Rs 1510: Kotak Securities

Kotak Securities Limited has buy call on Colgate-Palmolive (India) Ltd. with a target price of Rs 1510. The current market price of Colgate-Palmolive (India) Ltd. is Rs 1464.25. Time period given by analyst is Intra Day when Colgate-Palmolive (India) Ltd. price can reach defined target.

Colgate-Palmolive (India) Ltd., incorporated in the year 1937, is a Large Cap company (having a market cap of Rs 39847.26 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-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Standalone Total Income of Rs 1358.93 Crore, up 16.03 % from last quarter Total Income of Rs 1171.18 Crore and up 5.09 % from last year same quarter Total Income of Rs 1293.05 Crore. Company has reported net profit after tax of Rs 269.17 Crore in latest quarter.

Investment Rationale
Breakout of the confined range of a Rectangle chart pattern is seen along with good volumes.

Promoter/FII Holdings
Promoters held 51.0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 19.14 per cent, DIIs 7.41 per cent.