Godrej Consumer Products hits new high, stock soars 8%
Godrej Consumer Products has soared over 8% at Rs 659, also hits lifetime high, on the National Stock Exchange. The counter has seen huge trading activities with a combined 278,874 shares have changing hands so far, against an average around 162,000 shares that were traded daily in past two weeks.
According to media reports, the Godrej Group personal products maker is planning to acquire an insecticide company based in Israel.
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Meanwhile, the company said that its board is scheduled to meet on August 04, to take on record the un-audited financial results for the quarter ended June 30, 2012 and to consider declaration of interim dividend for the financial year 2012-13.
Analyst at Emkay Global Financial Services expect 33% year-on-year (y-o-y) growth in revenue to Rs 1,350 crore and net profit growth of 60% y-o-y to Rs 160 crore. Operating margin may increase by 432 bps at 19.1% for the quarter ended June 2012 on y-o-y basis.