Godrej Consumer gains as Nomura upgrades rating
ETMarkets.com|
Updated: Oct 09, 2017, 11.36 AM IST
NEW DELHI: Shares of Godrej Consumer advanced in Monday's trade after global brokerage firm, Nomura upgraded Godrej Consumer to neutral from reduce.
Following the development, the stock gained 1.34 per cent to Rs 960.05 on BSE. It opened at Rs 949 and touched an intraday high and low of Rs 964.70 and Rs 949 respectively, in the first hour of trade.
The Japanese financial holding company has said that the "recent 10 per cent correction in the market has brought stock valuations to fair territory."
Promoters held 63.27 per cent stake in the company as of June 2017.
For the quarter ended June 30, 2017, the company reported total revenue at 1,196.16 crore and net profit stood at 149.56 crore.
The scrip touched its fresh 52-week high of Rs 1,083.65 on July 27, 2017 and its 52-week low of Rs 642.78 on November 15, 2016.
Following the development, the stock gained 1.34 per cent to Rs 960.05 on BSE. It opened at Rs 949 and touched an intraday high and low of Rs 964.70 and Rs 949 respectively, in the first hour of trade.
The Japanese financial holding company has said that the "recent 10 per cent correction in the market has brought stock valuations to fair territory."
Promoters held 63.27 per cent stake in the company as of June 2017.
For the quarter ended June 30, 2017, the company reported total revenue at 1,196.16 crore and net profit stood at 149.56 crore.
The scrip touched its fresh 52-week high of Rs 1,083.65 on July 27, 2017 and its 52-week low of Rs 642.78 on November 15, 2016.
