Godrej Consumer Products gains on plans of hiking its hair care product price

Godrej Consumer Products is currently trading at Rs. 789.00, up by 5.60 points or 0.71% from its previous closing of Rs. 783.40 on the BSE. The scrip opened at Rs. 790.00 and has touched a high and low of Rs. 796.00 and Rs. 780.00 respectively. So far 2352 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 977.40 on 18-Jul-2013 and a 52 week low of Rs. 672.00 on 27-Jan-2014. Last one week high and low of the scrip stood at Rs. 821.40 and Rs. 770.50 respectively. The current market cap of the company is Rs. 26753.74 crore. The promoters holding in the company stood at 63.31 % while Institutions and Non-Institutions held 30.18 % and 6.51 % respectively. Godrej Consumer Products (GCPL) has reportedly planned to hike the price of its Godrej Expert Rich Hair Crème to Rs 35 from Rs 30 for a single sachet.  Inching closer with its price points, the company continues to be a notch lower than its nearest competitor, in a clear preference to price-savvy consumers. Its main competitors are Marico with its Livon brand, and L’Oreal, with its Garnier Black Naturals, in the hair colours category. With a new campaign ‘Best ever hair colour’, company will be extending its hair colour range over the next two years. Godrej Consumer Products is a leader among India's Fast Moving Consumer Goods companies, with leading Household and Personal Care Products. Its brands include Good Knight, Cinthol, Godrej No. 1, Expert, Hit, Jet, Fairglow, Ezee, Protekt and Snuggy, among others, which are household names across the country.