Godrej Consumer Products rose 1.43% to Rs 1,251.50 at 09:51 IST on BSE after the company announced that its subsidiary has entered into an agreement with Canon Chemicals, for the acquisition of a majority equity stake in its business in Kenya.
The announcement was made before market hours today, 4 February 2016.Meanwhile, the S&P BSE Sensex was up 162.57 points or 0.67% at 24,385.89
On BSE, so far 8,840 shares were traded in the counter as against average daily volume of 20,657 shares in the past one quarter. The stock hit a high of Rs 1,264.40 and a low of Rs 1,245 so far during the day. The stock had hit a record high of Rs 1,456.65 on 3 August 2015. The stock had hit a 52-week low of Rs 1,022.50 on 4 February 2015. The stock had underperformed the market over the past one month till 3 February 2016, sliding 8.07% compared with 7.41% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, falling 3.82% as against Sensex's 8.90% fall.
The large-cap company has equity capital of Rs 34.05 crore. Face value per share is Re 1.
Godrej Consumer Products announced that its subsidiary has entered into an agreement with Canon Chemicals, for the acquisition of a majority equity stake in its business in Kenya. Canon Chemicals is a Kenya based company engaged in manufacturing and distributing products in the personal and home care categories. Its major brand is Valon, a petroleum jelly. In 2015, the annualised revenue of the business was Kenyan Shilling (KSh) 1,146 million. This acquisition helps the company in further building its presence in the sub-Saharan Africa market, Godrej Consumer Products said.
Godrej Consumer Products' consolidated net profit rose 22.5% to Rs 322.95 crore on 5.9% rise in total income to Rs 2380.96 crore in Q3 December 2015 over Q3 December 2014.
Godrej Consumer Products is the largest home-grown home and personal care company in India.
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