Godrej Consumer Products Ltd Share Price – NSE  /  BSE

FMCG, Mid Cap

Godrej Consumer Products will hold a meeting of the Board of Directors of the Company on 7 August 2024.

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The frontline indices continued to trade with decent gains in mid-morning trade. The Nifty traded above the 24,350 mark. Auto shares gained after declining in the previous trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 270.93 points or 0.34% to 80,230.36. The Nifty 50 index added 62.55 points or 0.26% to 24,383.45.

In the broader market, the S&P BSE Mid-Cap index added 0.19% and the S&P BSE Small-Cap index rose 0.18%. The S&P BSE Mid-Cap index hit an all-time high at 47,659.70.

The market breadth was positive. On the BSE, 2,025 shares rose and 1,730 shares fell. A total of 122 shares were unchanged.

Buzzing Index:

The Nifty Auto index gained 1.24% to 25,574.80. The index shed 0.54% in the past trading session.

Maruti Suzuki India (up 5.27%), Bosch (up 1.81%), Ashok Leyland (up 1.11%), Apollo Tyres (up 1.01%), Mahindra & Mahindra (up 0.96%), MRF (up 0.8%), TVS Motor Company (up 0.78%), Hero MotoCorp (up 0.75%), Eicher Motors (up 0.4%) and Tata Motors (up 0.39%) edged higher.

On the other hand, Balkrishna Industries (down 0.51%), Samvardhana Motherson International (down 0.4%) and Bharat Forge (down 0.34%) declined.

Stocks in Spotlight:

Godrej Consumer Products declined 1.59%. The company said that despite the operating conditions in India continuing to remain soft in the quarter its India business performed well with high-single digit organic volume and mid-single digit value growth.

Pitti Engineering added 1.83% after the company opened its QIP for raising upto Rs 360 crore and set the floor price at Rs 1,054.25 per share.

Global Markets:

Asian stocks advanced, mirroring another record close for the S&P 500, as investors awaited Federal Reserve Chair Jerome Powell's testimony before Congress and the kick-off of the U.S. earnings season.

Powell's testimony, starting Tuesday, will be scrutinized for clues about the Fed's monetary policy direction. He faces conflicting pressures from lawmakers: some urging interest rate cuts and others critical of the Fed's recent plans to tighten regulations on Wall Street banks.

In the U.S., both the S&P 500 and Nasdaq indexes extended their gains on Monday, reaching new all-time highs. Investors are looking ahead to key inflation data due later this week.

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Reported growth will be double-digit in volume and high-single digit in value terms. The growth was broad-based across both Home Care and Personal Care. Demand in Household Insecticides had been soft for earlier parts of the quarter due to extreme heatwaves across the country.

Indonesia business continues to consistently deliver strong performance with high-single digit volume growth and double-digit constant currency sales growth. However, the Indonesian currency has seen high depreciation leading to lower growth in Rs terms.

The GAUM (Godrej Africa, USA, and Middle East) organic business is expected to see double-digit volume decline largely led by West Africa due to a high base in Q1 FY24 on account of appointment of a National Distributor giving a one-time sell-in benefit and some tough pricing decisions in Nigeria. There has been an additional impact driven by supply disruption in South Africa led by the shipping crisis.

The company said that as shared earlier, the currency in Nigeria continues to negatively impact its Rs sales performance. Despite this, it has grown EBITDA (reported) in Rs terms in strong double-digit.

At a consolidated level (organic), it expects flattish Rs sales, double-digit constant currency sales growth and double-digit EBITDA (reported) growth.

Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colorants, toiletries and liquid detergents.

Godrej Consumer Products (GCPL) reported consolidated net loss of Rs 1,893.21 crore in Q4 FY24 as compared with net profit to Rs 452.14 crore in Q4 FY23. Revenue from operations increased 5.8% YoY to Rs 3,385.61 crore in Q4 FY24.

The scrip declined 2.33% to Rs 1,392.55 on the BSE.

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Securities in F&O ban: Aditya Birla Fashion and Retail (ABFRL), Chambal Fertilisers & Chemicals, GNFC, Piramal Enterprises, India Cements, Indus Towers and Hindustan Copper.

Upcoming results: G.M. Breweries, Delta Corp.

Godrej Consumer Products expects double digit growth and high-single-digit growth in value terms across home care and personal care segments in Q1 FY25.

Torrent Power signed an agreement with ARS Steeks and Torrent Urja 14 for setting up 50 MWp solar projects in Tamil Nadu.

Container Corporation of (India) reported total throughput of 11.59 lakh TEUs, up 6% YoY in Q1 FY25, The export-import throughput increased 3.3% to 2.89 lakh TEUs in the quarter ended 31 June 2024, while the domestic throughput was 8.69 lakh TEUs, up by 15% year-on-year in Q1 FY25.

Nestle India’s shareholders approved the continuation of the current rate of 4.5% as royalty payment to its Swiss parent in the company's annual general meeting held on Monday.

H.G.Infra Engineering entered into an Memorandum of Understanding (MoU) with Ultra Vibrant Solar Energy for the execution of a solar power plant project.

Dixon Technologies will exit the joint venture AIL Dixon Tech and acquire a 6.5% stake in Aditya INfotech as consideration for the divestment.

Pitti Engineering opened its QIP for raising upto Rs 360 crore and set the floor price at Rs 1,054.25 per share.

Utkarsh Small Finance Bank received an Reserve Bank of India (RBI) nod for the re-appointment of Govind Singh as managing director (MD) and chief executive officer (CEO) for three years effective from 21 September 2024.

HFCL’s Netherlands unit has incorporated subsidiary in the UK for making optical fibre cables.

Jio Financial Services’ Charanjit Attra resigned as Group Chief Operating Officer and will take over as MD and CEO of Jio Leasing Services starting July 9.

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