MUMBAI: Shares of Godrej Consumer Products Ltd (GCPL) gained nearly 6% on Thursday despite weak January-March results. Analysts said the company’s domestic business was showing signs of recovery as the management takes corrective actions but the process may be gradual.
At 02:10 pm, the stock was 5.1% higher at ₹551.65 apiece on the BSE, while the benchmark Sensex was down 2.6% at 31,175.68 points.
With today’s gain, the stock has risen 16.4% in the past one week compared with the 0.02% increase in the Sensex. It had hit a 52-week low of ₹425 on 23 March. "While overall company level growth rates is likely to pick up only gradually, innovative product launches and sustained market share gains across categories will keep the company in good