 "Gillette India hits new high on heavy volumes")
Shares of personal products maker Gillette India soared 11% to Rs 3,630 on back of heavy volumes. The stock opened at Rs 3,259 and touched a record high of Rs 3,705 on BSE.
The trading volumes on the counter has more than doubled with a combined 46,061 shares changed hands on NSE and BSE till 1350 hours.
Since October 30, the stock rallied 32% from Rs 2,804 after the company reported 17% year on year growth in net profit at Rs 18 crore, on the back of productivity driven cost savings and operational excellence.
Driven by the company’s focus on innovation and productivity, net sales increased to Rs 439 crore, up 13% versus last year, with robust double digit growth across all segments, Gillette India said in a statement.
As on September 30, the promoters held 75% stake in the company. The remaining 25% stakes are with the foreign institutional investors (8.07%), bodies corporate (6.96%), individual shareholders (7%) and others (2.97%).
The trading volumes on the counter has more than doubled with a combined 46,061 shares changed hands on NSE and BSE till 1350 hours.
Since October 30, the stock rallied 32% from Rs 2,804 after the company reported 17% year on year growth in net profit at Rs 18 crore, on the back of productivity driven cost savings and operational excellence.
Driven by the company’s focus on innovation and productivity, net sales increased to Rs 439 crore, up 13% versus last year, with robust double digit growth across all segments, Gillette India said in a statement.
As on September 30, the promoters held 75% stake in the company. The remaining 25% stakes are with the foreign institutional investors (8.07%), bodies corporate (6.96%), individual shareholders (7%) and others (2.97%).