Share price of Godrej Consumer falls as Nifty weakens

Shares of Godrej Consumer Products Ltd. slipped 1.39 per cent to Rs 1050.85 in Thursday's trade as of 01:16PM (IST). The stock hit a high price of Rs 1074.0 and low of Rs 1050.75 during the session.

The return on equity (ROE) for the stock stood at 12.34 per cent. Traded volume on the counter stood at 01:16PM shares and turnover at Rs 1.84 crore around that time. The stock of Godrej Consumer Products Ltd. quoted a 52-week high price of Rs 1074.0 and 52-week low prices of Rs 708.6, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.96.

Promotor/FII Holding
Promoters held 63.21 per cent stake in the company as of 31-Mar-2023, while overseas investors held 23.72 per cent and domestic institutional investors had 3.88 per cent.

Key Financials
The company reported consolidated sales of Rs 3258.07 crore for the quarter ended 31-Mar-2023, down 10.54 per cent from previous quarter's Rs 3642.07 crore and down 10.83 per cent from the year-ago quarter's Rs 2939.58 crore. Net profit after tax for the latest quarter stood at Rs 452.14 crore, up 24.47 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.