Company Overview and News
Shares of Godrej Consumer Products jumped as much as 1.44 per cent in Thursday's trade as the company is reducing the prices of products such as hair colour, air fresheners, liquid detergents and deodorant by 7-10 per cent, post the announcement of rate cuts by the GST Council last week.
Companies with at least one woman on the board yielded higher returns, according to Credit Suisse (1-0)
After the announcement of rate cuts on around 200 items by the GST Council last week, FMCG companies are proactively looking at ways to pass on the benefits to consumers.
Godrej Consumer Products on Wednesday said that it is reducing the prices of products such as hair colour, air fresheners, liquid detergents and deodorant by 7-10 per cent, post the announcement of rate cuts by the GST Council last week.
A worker arranges food packets inside a retail store in Kolkata October 24, 2013. — Reuters picNEW DELHI, Nov 15 — India’s biggest tax overhaul since independence has driven a wedge between companies that have adapted to the new levies and a vast swath of small businesses, representing almost half the economy, that are struggling. (95-0)
Mumbai: Godrej Industries Ltd on Tuesday said consolidated net profit in the September quarter rose 53% from a year ago to Rs95 crore on the back of growth in the agriculture, consumer and property business.
After its muted performance in the June quarter due to the transition to GST, India Inc is getting back to form, going by the September quarter results of 700-odd companies. (1-0)
With the GST Council putting several commonly used household, confectionery and personal care products under a lower tax slab from the current 28 per cent, the FMCG industry expects to see a huge boost in consumption.
The market snapped two-day losing streak, ending flat with a positive bias on Thursday; but the broader markets outperformed equity benchmarks, following strong earnings. Investors focussed on SBI earnings and the outcome of GST Council meeting due tomorrow. (36-0)
Mumbai : India’s consumption story, which took a severe hit from the government’s move to demonetise high-value currency notes a year ago, has returned to normal. Two quarters following demonetisation showed a slowdown in the fast moving consumer goods, automobile, cement and real estate space as severe cash shortage in the economy dealt a major blow to the consumption story. (5-0)
A surprise increase in sales volumes of consumer packaged goods companies has boosted hopes of a recovery in consumption demand, indicating the possible end of the lingering effects of last year’s demonetisation and the fallout of the move to a goods and services tax (GST) regime in July.
Bajaj Auto reported a 7.38% increase in total sales in October at 3,82,464 units as against 3,56,168 units in the same month last year. Total domestic sales were at 2,47,210 units last month as compared to 2,38,781 units in October 2016, a growth of 3.53%. Motorcycle sales in the domestic market declined marginally to 2,11,553 units in October as against 2,12,997 units in the corresponding month last year. (37-1)
The government may nudge cash surplus central public sector enterprises (CPSEs) to invest in the proposed Rs 1.35 lakh crore bond offering to recapitalise public sector banks, reports The Economic Times. This is among the options being considered by the government, said a senior finance ministry official. Earlier this month, the government had announced a Rs 2.1 lakh crore bank recapitalisation plan, of which Rs 76,000 crore will come through budgetary support and bank stake sales, and Rs 1. (14-0)
3:30 pm Market at Close: Benchmark indices ended the session on a strong note, with Nifty closing above 10400 first time ever. (52-0)
FMCG major Godrej Consumer Products Ltd on Wednesday reported 12.56 per cent increase in its consolidated net profit to Rs 361.95 crore for the September quarter on higher income and volume growth. It had posted net profit of Rs 321.54 crore during the July-September quarter of last fiscal, Godrej Consumer Products Ltd (GCPL) said in a regulatory filing.
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