Buy Colgate On Dips

Buy Colgate On DipsStock market analyst Rakesh Bansal of New Age Wealth has maintained 'buy' rating on Colgate-Palmolive (India) Limited stock with a target of Rs 960.

According to analyst, the interested investors can buy the stock on dips with a strict stop loss of Rs 870.

The stock of the company, on Sept 27, closed at Rs 911.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 927.50 and a low of Rs 617 on BSE.

Current EPS & P/E ratio stood at 32.54 and 27.73 respectively.

Colgate Palmolive (India) has declared that its wholly owned arm, CC Health Care Products (P), had applied to the HC of Judicature at AP for approving the merger plan of CC Health Care Products (P) from April 01, 2009.

FMCG major Colgate Palmolive (India) has recorded a net PAT of Rs 1.22 billion for the three month period ended June 30 as compared to Rs 1.03 billion in the same period of last year.

The company's total income during April-June period stood at Rs 5.55 billion for the quarter under review.

Pursuant to the Merger plan, approved through an order dated April 16, 2010 of the BHC at Goa, Professional Oral Care Products Private (POC) has been merged with Colgate.