Colgate smiles bright
Colgate –Palmolive is very much in the limelight today, with the stock opening the day higher at Rs.1375, going on to hit an intra day high at Rs.1393 and then profit booking taking it down to an intra day low point of Rs.1370. Currently, it remains around Rs.1380 levels.
The stock is up on news that its new unit at Sanand, Gujarat has commenced commercial production of toothpaste on 21st May 2014. This new unit was fully commissioned and tested in March’14. Initially, this new unit will have a manufacturing capacity of 15,000 MTs of toothpaste.
The market is also awaiting its Q4 numbers in great anticipation, which is scheduled to be announced today. Its performance in Q3 was dull with just a 1% rise in net profit and 16% growth in net sales.