Stock Market

Stock Exchange Market Update: Colgate Palmolive Jumps 3 Percent After CLSA Upgrades Stock To Buy From Sell

Colgate Palmolive (India) share price acquired 2.7 percent in stock exchange market on October 11, 2018. Afterward, all-around brokerage firm CLSA upgraded the stock to buy from Sell.

Colgate-Palmolive (India) Ltd rose for a third straight session today. The stock is commendation at Rs 1089.65, up 3.51 percent on the day as on 12:49 IST on the NSE. The criterion NIFTY is down about 1.52 percent on the day, commendation at 10301. The Sensex is at 34268.46, down 1.42 percent. Colgate-Palmolive (India) Ltd has alone about 1.61 percent in enduring one month.

Meanwhile, Nifty FMCG basis of which Colgate-Palmolive (India) Ltd is a constituent and has about 11.04 percent and is currently commendation at 27596.5, down 0.62 percent on the day. The volume in the stock stood at 3.67 lakh shares today, compared to the circadian boilerplate of 4.42 lakh shares in enduring one month.

For the stock exchange market, the analysis above raised the target price on the stock to Rs 1,265 from Rs 1,120, implying an abeyant upside of 20 percent. Colgate has added its advance focus and the advance action of the aggregation is at best.

The benchmark October futures contract for the stock is commendation at Rs 1087.1, up 3.08 percent on the day. Colgate-Palmolive (India) Ltd is down 1.73 percent as compared to a 2.03 percent accretion in NIFTY and a 7.66 percent accretion in the Nifty FMCG index, according to the report of Business Standard.

It believes that the affliction for the company seems to be over now as big bazaar is stabilizing. Currently, Colgate’s valuations are at discount. CLSA expects accepted valuations to sustain as outlook improves.

The share price fell more than 10 percent from September stock exchange market as compared to 16 percent alteration in Nifty FMCG index. The stock amount was commendation at Rs 1,079.80, up Rs 27.15, or 2.58 percent on the BSE, according to the report of Moneycontrol.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

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