Touching an upper circuit of 25 per cent during Tuesday’s session, Godrej Consumer has hit a 52-week high at Rs 894 per share intraday on BSE. The company on Monday had reported quarter four results and also appointed a new managing director and chief executive officer. 

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Godrej Consumer’s net profit grew by over 53 per cent at Rs 365.84 crore in March-ended quarter results of the financial year 2020-2021 as compared to Rs 229.90 crore in the same quarter last year. It also appointed Sudhir Sitapati as MD and CEO of the company effective October 18, 2021. 

Immediate after its result release and CEO appointment news, the brokerage firms being bullish, had expected the shares of the Godrej Consumer to jump exponentially. Credit Suisse and Jefferies had maintained Outperform and Buy stance respectively for the stocks of the company. 

Credit Suisse mentioned, the CEO appointment of Sudhir Sitapati a major medium-term positive, it would gain immensely from a strong CEO. It set a target at Rs 875 per share, which was achieved on Tuesday’s trade. It said, the company is an important phase of expansion into new categories. 

Similarly, Jefferies had also maintained Buy call on Godrej Consumer, the company continued to be the brokerage's top pick in the FMCG (Fast Moving Consumer Goods) space. The brokerage firm expects, new CEO announcement can be a trigger for re-rating. 

Godrej Consumer on Tuesday had closed at Rs 715 per share. Its day’s low was when the shares opened today at Rs 750 per share. It has given 4.76 per cent returns over the last 6 months and 37.24 per cent over the last 12 months. 

The company’s net sales grew by over 26 per cent at Rs 2,730.74 crore in March-ended quarter in FY21 as compared to Rs. 2,153.80 crores in Q4 FY20. EBITDA of the company stood at Rs. 565.57 crore in March 2021 up 7.58 per cent from Rs. 525.70 crore in March 2020.