Colgate-Palmolive shares drop 0.1% as Sensex falls

Shares of Colgate-Palmolive (India) Ltd. traded 0.1 per cent down at Rs 1961.55 at 10:10AM (IST) on Wednesday, even as BSE benchmark Sensex dropped 144.49 points to 65257.43.

The stock had closed at Rs 1963.5 in the previous session. The stock quoted a 52-week high price of Rs 2061.55 and 52-week low of Rs 1434.6, respectively. As per BSE data, total traded volume on the counter till 10:10AM (IST) stood at 11074 shares with a turnover of Rs 2.18 crore.

At the prevailing price, shares of the company traded at 48.01 times its trailing 12-month EPS of Rs 40.85 per share and 23.88 times its price-to-book value, exchange data showed.

A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.52.

Shareholding Details

Promoters held 0.0 per cent stake in the company as of 30-Jun-2023, while FIIs owned 21.8 per cent and DIIs 2.16 per cent.

Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 64.06. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.