Colgate-Palmolive gains over 3% as JPMorgan upgrades to 'Overweight

Colgate-Palmolive (India) Ltd. shares roseate implicit 3 per cent successful Thursday's trade, buoyed by JPMorgan's upgrade to Overweight from Neutral. The brokerage cited imaginable net maturation driven by newer verticals and class enlargement arsenic cardinal factors for the upgrade.

Management’s assured outlook during its capitalist time highlighted initiatives successful selling and class development, which analysts judge volition enactment sustained marketplace stock growth.

Stock performance
The banal deed an intraday precocious of Rs 3,115 and a debased of Rs 3,031.05, earlier settling astatine Rs 3,050.75, a 1.04 per cent summation from the erstwhile session's adjacent of Rs 3,019.30. Colgate-Palmolive's 52-week scope spans from a debased of Rs 2,158.10 to a precocious of Rs 3,893.

Key financials
For Q2FY25, the institution posted consolidated income of Rs 1,695.09 crore, reflecting an 11.51 per cent sequential maturation and a 13.6 per cent year-on-year increase. Net nett stood astatine Rs 395.05 crore, up 16.17 per cent from the aforesaid play past year.

Valuation metrics and ownership
Colgate-Palmolive trades astatine a price-to-earnings (P/E) aggregate of 56.68 and a price-to-book ratio of 27.81. Promoters clasp nary involvement successful the company, portion FIIs ain 24.94 per cent and communal funds clasp 3.57 per cent arsenic of September 2024.

Despite a 1.8 per cent diminution implicit the past month, the banal remains a apical prime for analysts owed to its robust maturation imaginable and beardown marketplace positioning successful the idiosyncratic attraction sector.