NEW DELHI: Shares of Godrej Consumer Products Ltd (GCPL) rose over 4% on Thursday, a day when the Nifty 50 index fell close to 2%.
The company’s March quarter results, announced on Wednesday after market hours, were far from inspiring, with India business volume declining as much as 15%.
Why are GCPL’s investors excited then? Simply put, the management’s commentary, in the earnings call, was encouraging. In a 13 May report titled, ‘In No Man’s Land,’ Jefferies India Pvt.
Ltd said, “(GCPL) Management indicated April in India actually witnessed growth which is a surprise in the context of all the issues around manufacture and supply chain due to lock-down." Of course, it helps to be cautious and wait to see how this will manifest in the