Godrej Consumer at new high

Godrej Consumer is a bright star today morning, leading the list of gainers on the BSE. The stock opened in the positive and soon rose over 23% to hit a new 52-week high at Rs.883, on the back of an over 8 times surge in volumes.

The market is pretty gung-ho about its earnings for Q4FY21. Its consolidated net profit for the quarter came in at Rs.366 crore, up 59% (YoY) and this on the back of a 27% rise in revenue from operations at Rs.2706 crore.

The market is also pretty enthused with the appointment of Sudhir Sitapati as MD & CEO, effective 18th Oct’21; he comes with 22 years of experience with HUL.

The company though said that localised lockdowns could impact frontline servicing and replenishment of outlets. It said that the second wave could be a tailwind for the Hygiene (including Soaps) category and headwind for certain discretionary categories.