5 Minutes Read

Stocks To Watch In 2023 | Will the 4-point strategy of Colgate’s new CEO deliver?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

CNBC-TV18 has compiled a list of the top 20 stocks to watch out for in 2023. It’s a carefully curated list of companies that warrant a closer look in 2023 which consists of Maruti Suzuki, Apollo Hospitals, Reliance Industries Ltd (RIL), Oil and Natural Gas Corporation (ONGC), Bharti Airtel, LTIMindtree, PVR, Zee Entertainment, Orient Cement, Sagar Cement, Colgate, Container Corporation (CONCOR), HDFC Life, NTPC, Larsen and Toubro (L&T), Bajaj Finance Ltd, IDBI Bank, HDFC Bank, IDFC First Bank and Paytm. These are the companies which CNBC-TV18’s research team has on its radar. CNBC-TV18 puts out the names in detail one by one and will explain what could change and what the impact could be.

Packaged consumer goods company Colgate-Palmolive (India) reported its December quarter earnings on January 24. The company failed to beat street expectations and all metrics came below estimates. Colgate reported a profit of Rs 243.2 crore for the quarter under review, 8.2 percent below estimates. The company reported a profit of Rs 252.3 crore in the corresponding quarter in the previous year.

However, it is a stock to watch in 2023 as Prabha Narasimhan has taken over as its MD and CEO from September 2022,  after 14 years of being in the country’s largest consumer products company–  Hindustan Unilever Ltd (HUL).

She spelled out the roadmap for growth after taking over, and had the 4 key points in her plan.

One is to lead toothpaste category growth; second is premiumisation through science and innovation; third to lead category growth in toothbrush and devices and fourth is build the personal care business through organic and inorganic means.

Other than that, on expansion, the company is planning to set up a business-to-business platform called DentistFirst and is also keen on entering the kids’ toothpaste category.

Also Read | Colgate’s new CEO wants more Indians to brush regularly and change toothbrushes more often

Analysts said that the new growth strategy is in line with previous outlines. So the key thing to watch out for is its execution.

Colgate has been struggling in the past many quarters. Weak volume performance, market share erosion and muted quarterly performance had hurt the company.

However, in quarter three of FY23, the company has increased ad spends by 140 basis points (bps) of sales and has also announced a partnership with Andhra Pradesh government to start oral health awareness program.

The execution, needs to be monitored.

The stock has corrected about 14 percent from its 52-week high and it trades at 34x FY24 earnings.

Also Read | Colgate-Palmolive Q3 Results: Earnings fail to beat Street estimates, net profit declines 3.6%

The key risks and the reasons why the stock trades at a discount are slower than expected recovery and larger than expected market share decline.

The brokerage firm CLSA has given an underperform rating on the shares of the company with a target price of Rs 1,525 per share. Nomura gave a neutral rating on the company with a target price of Rs 1,550 per share. Axis Securities downgraded the rating to hold with a target price of Rs 1,550. Motilal Oswal does not expect earnings growth to resume strongly over the medium term and maintained a neutral call with a target price of Rs 1,565 and Citi maintains a sell call on the shares of Colgate with a target price of Rs 1,650/share.

For more, watch the accompanying video

Click the Top 20 Stocks tab to see CNBC-TV18’s research explain what to watch out for in these major players this year.

Disclaimer: This is not a recommendation list. The CNBC-TV18 editorial team does not advise on trading/investing in the stock market. Any investor/viewer is advised to carry out necessary diligence on their own or through a certified registered financial adviser for investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Analysts expect Colgate-Palmolive’s near-term growth to remain sluggish

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The domestic business grew with decline in volume. Higher A&P spend keeps margin in check. CLSA stated that stable market share is comforting but category volume decline is concerning.

The consumer goods company Colgate-Palmolive reported its December quarter earnings on Tuesday, January 24. The company failed to beat street expectations and all metrics came below estimates. Colgate reported a profit of Rs 243.2 crore for the quarter ender review, 8.2 percent below estimates. The company reported a profit of Rs 252.3 crore in the corresponding quarter in the previous year.

Colgate’s ad spends during the quarter under review came at Rs 169.9 crore against Rs 158.2 crore in the previous quarter. In the quarter ended December 2021, the ad spends came at Rs 150.9 crore.

The brokerage firm CLSA has given an underperform rating on the shares of the company with a target price of Rs 1,525 per share. According to CLSA, lower margin drove the earnings miss. The domestic business grew with decline in volume. Higher A&P spend keeps margin in check. CLSA stated that stable market share is comforting but category volume decline is concerning.

Nomura gave a neutral rating on the company with a target price of Rs 1,550 per share. The firm noted that execution of new strategy is the key for the company. Higher investments and execution will be key to company’s four-pillar growth strategy.

Also Read: Most analysts cheer Maruti Suzuki’s multi-quarter high margin, SUV share gain

Axis Securities downgraded the rating to hold with a target price of Rs 1,550. The brokerage praised company’s growth through initiatives such as launching science-based premium products to drive overall realisations, category development by driving awareness through marketing initiatives, increasing frequency of consumption and penetration in rural, and expanding personal care portfolio to derisk from slow growing oral care category.

However, Axis Sec said that the strategy would have a long gestation period and would require consistent investment in the arena of market development (higher marketing and ad-spends) which will put pressure on the company’s bottom line in the near term.

Motilal Oswal does not expect earnings growth to resume strongly over the medium term and maintained a neutral call with a target price of Rs 1,565. The brokerage said, “While initiatives for growth under the new CEO are welcoming, we do not see any material change in business prospects over the near to medium term.” Motilal Oswal said that the weak revenue and earnings growth is likely to sustain going forward and hence no re-rating of the stock with a two-year earnings CAGR of nearly 12 percent.

Also Read: IT stocks likely to rise as peak hawkishness in US over, says this market watcher

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3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Colgate-Palmolive Q3 Results: Earnings fail to beat Street estimates, net profit declines 3.6%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

A poll by CNBC-TV18, expected the net profit at Rs 265 crore. Colgate reported a profit of Rs 252.3 crore in the corresponding quarter in the previous year.

Consumer goods company Colgate-Palmolive reported its December quarter earnings on Tuesday, January 24. The company failed to beat street expectations and all metrics came below estimates.

Colgate reported a profit of Rs 243.2 crore for the quarter ender review, 8.2 percent below estimates. A poll by CNBC-TV18, expected the net profit at Rs 265 crore. Colgate reported a profit of Rs 252.3 crore in the corresponding quarter in the previous year.

CNBC-TV18 poll expected the company to report a low-single-digit rise in revenue while EBITDA or operating profit was also seen registering a low single digit growth compared to last year.

The company’s revenue from operation came Rs 130.1 crore against, Rs 139.8 crore in the previous quarter and Rs 128.5 crore in the year-ago period.

The company’s ad spends during the quarter under review came at Rs 169.9 crore against Rs 158.2 crore in the previous quarter. In the quarter ended December 2021, the ad spends came at Rs 150.9 crore.

The company stated in an exchange filing that the sales, net of GST, for the quarter ended and nine months ended December 31, 2022 increased by 0.8 percent and 1.9 percent respectively as compared to the year-ago period.

During the quarter, the company undertook a price hike of four percent. Prabha Narasimhan took over as managing director and chief executive officer of the oral care company on September 1. Narasimhan told CNBC-TV18 that the key goal for the company is to drive performance and keep up with the environmental changes. She said Colgate-Palmolive (India) is the highest-penetrated brand in the country.

Shares of Colgate-Palmolive India are trading 1.5 percent lower at Rs 1,468.85. The stock is 12 percent off its recent highs and is trading at 34 times financial year 2024 earnings.

Catch the latest market update with CNBC-TV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Colgate’s new CEO wants more Indians to brush regularly and change toothbrushes more often

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

. According to Jefferies, with the strategies of Colgate-Palmolive (India) to expand in personal care, the company is eyeing growth opportunities in the Non-Oral care business.

[wealthdesk shortname=”Colgate” isinid=”INE259A01022″ bseid=”500830″ nseid=”COLPAL” sector=”Personal Care” exchange=”bse”]

Packaged consumer goods company Colgate-Palmolive (India) is looking to expand into the personal care segment and is open to inorganic opportunities in the sector, the company mentioned in the first analyst meeting under new leader Prabha Narasimhan. The company also said it would launch a platform called DentistFirst and venture into the kids’ toothpaste category.

Prabha Narasimhan took over as managing director and chief executive officer of the oral care company on September 1. Narasimhan told CNBC-TV18 that the key goal for the company is to drive performance and keep up with the environmental changes. She said Colgate-Palmolive (India) is the highest-penetrated brand in the country.

Key takeaways from the analyst meet

In her first analyst meeting, Narasimhan spelt out the roadmap for growth.

The key focus areas for the company are per capita consumption which needs to be increased. Data shows that in India, the per capita consumption of toothpaste is 1X, in the Philippines, it is 1.8X, and in Brazil, it is 3.1X.

Data suggests that 55 percent of rural Indians do not brush their teeth even once a day — which is what Colgate-Palmolive (India) wants to focus on.

The key focus area for the company is toothbrush replacement. According to data by Colgate-Palmolive (India), in Urban India, the toothbrush replacement duration is six months, while in rural India, it is 15 months. The company recommended replacement is three months, and Colgate-Palmolive will keep that in focus to increase sales.

The four strategies the company said it would abide by:

  1. Lead toothpaste category growth
  2. Premiumisation through science and innovation
  3. Lead category growth in toothbrushes and devices
  4. Build a personal care range

Other than that, on expansion, the company is planning to set up a business-to-business platform called DentistFirst and is also keen on entering the kids’ toothpaste category.

Also read:  Meet Prabha Narasimhan, first external candidate to steer Colgate India in 12 years

Brokerage house Citi maintains a sell call on the shares of Colgate with a target price of Rs 1,650/share. The brokerage house has noted that focus on both volume growth and premiumisation is likely a tall ask.

Nomura on the other hand, maintained a neutral call on the shares of the company with a target price of Rs 1,600.

In February, the company announced launching a range of Palmolive face care products, including face foams, gels, scrubs and masques for capturing consumer demand at the premium end of the skincare market in India.

Meanwhile, global brokerage firm Jefferies expects the management to prioritise market share. According to Jefferies, with the strategies of Colgate-Palmolive (India) to expand in personal care, the company is eyeing growth opportunities in the non-oral care business.

The Colgate Palmolive India stock drifts lower as analysts remain circumspect of the new ceo’s growth plan.

Also read: Colgate profit jumps 3.3% beating street estimates

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Colgate profit jumps 3.3% beating street estimates

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Analysts in a CNBC-TV18 poll had estimated the profit at Rs 272 crore.

Consumer products giant Colgate Palmolive (India) Ltd reported a profit of Rs 278 crore on Thursday for the quarter ended September, 2.2 percent higher than the street estimate, benefiting from price increases implemented to counter the blow from a surge in raw material costs.

Analysts in a CNBC-TV18 poll had estimated the profit at Rs 272 crore.

The gross margins of the company for the second quarter stood at 63.8 percent against 66.8 percent in the year-ago period. The advertisement spends for the period under review declined 14.6 percent to Rs 158.2 crore, down from Rs 185.3 crore in the corresponding period in the previous year. The ad spends constituted to 11.4 percent of sales.

“The current quarter has seen improved momentum versus prior quarters driven by the focused deployment of initiatives during the festive season. We continue to remain cautiously optimistic on the overall growth trend, especially in rural, and are encouraged by the growth of modern trade and e-commerce businesses in the current quarter,” said Prabha Narasimhan, Managing Director at Colgate-Palmolive (India) Ltd, said.

The biggest trigger for the company’s performance is the appointment of Narasimhan with effect from September 1.

The shares of the company ended 1.6 percent higher at Rs 1,603.2 on BSE on Thursday.

Catch latest market updates with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Wednesday’s top brokerage calls: Colgate, Tata Steel, Maruti, and TVS

Stocks to buy
CLSA on Colgate | CLSA maintains ‘sell’ on the shares of Colgate with a target price of Rs 1,490. The brokerage house says that the challenges are contracting market share and high revenue concentration in oral care category.
CLSA on Maruti | CLSA maintains a ‘sell’ on the shares of Maruti with a target price of Rs 7,053. It is tough to achieve 50 percent market share given competition in hatchback and MPV segments, CLSA says.
Jefferies on 2-wheelers | Jefferies name Eicher and TVS as preferred buys, followed by Bajaj Auto. Over FY22-24, see EPS rising 120 percent for Eicher/TVS and 60-70 percent for Bajaj/Hero Moto, says Jefferies.
JPMorgan on Tata Steel | JPMorgan maintains an ‘overweight’ rating on the shares of Tata Steel, with a target price of Rs 1,400. India volumes pick up as consumer de-stocking is behind company, says the brokerage house.

Friday’s top brokerage calls: Hindalco, Piramal Enterprises, Motherson Sumi and Colgate

Stocks to buy
Jefferies on Hindalco | The brokerage firm expects EBITDA (earnings before interest, taxes, depreciation, and amortization) and EPS (earnings per share) to fall 6-13 percent year-on-year in FY23, after two strong years.
CLSA on Piramal Enterprises | CLSA maintains a ‘buy’ on Piramal’s stock with an upgraded target price of 2,330. The brokerage firm has cut consolidated profit estimates by 12-14 percent for the conglomerate.
JPMorgan on Hindalco | The brokerage firm maintains ‘overweight’ with an upgraded target price of 565 and states that the underperformance is not justified given strong earnings and cash flows.
Jefferies on Motherson Sumi | Jefferies cut Motherson Sumi’s FY23-24 EPS estimates by 6-9 percent. The brokerage also said that margin was down 350 bps year-on-year (YoY) due to multiple cost headwinds.
CLSA on Colgate | The brokerage firm maintains ‘sell’ with a target price of 1,490. Focus should be on topline, said CLSA.

Colgate, Future Retail, Cipla, Lupin, Sun Pharma and more: Key stocks that moved the most on Mar 11

stock market, stocks, investing
Colgate Palmolive, share price, stock market, hul executive, ceo, md, prabha narsimhan
Colgate-Palmolive (India) | Shares of the FMCG player gained about 2 percent intraday after Colgate announced that a former Hindustan Unilever executive, Prabha Narasimhan, has been appointed the new CEO and MD of Colgate as Ram Raghavan moves to take over a role at the parent company. However, the stock was unable to sustain initial gains and settled percent 0.31 higher.
drugs, drug price, Nifty Pharma, Cipla, Granules, Laurus Labs, Sun Pharmaceutical Industries, Dr Reddy's Laboratories, Pfizer, Lupin, Aurobindo Pharma, Torrent Pharma
Nifty Pharma | Nifty Pharma gained the most among NSE sectoral indices and ended xx percent higher. Shares of Cipla, Granules, Laurus Labs, Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Pfizer, Lupin, Aurobindo Pharma and Torrent Pharma ended 0.87-5.87 percent higher.
JK Paper, share price, paper sector, nifty500
JK Paper | Shares of the paper company closed 11.70 percent higher and were the top gainers on Nifty500.
D B Realty, share price, stock market, new project
D B Realty | Shares of the company ended 5 percent higher in the upper circuit after it received a letter of acceptance from the Municipal Corporation of Greater Mumbai (MCGM) for a project worth Rs 1,584 crore. The company has also bid for the construction of another 10,500 tenements at Malad for the MCGM.
Future Retail, share price, stock market, nifty500
Future Retail | Shares of the company ended 4.93 percent lower and were the worst hit on Nifty500.
 5 Minutes Read

Colgate-Palmolive names former HUL executive director Prabha Narasimhan as CEO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Narasimhan’s departure from Hindustan Unilever (HUL) was announced by the company earlier this week. She is the executive director, home care (HC) for HUL and vice president, HC, Unilever, South Asia.

Prabha Narasimhan, a former Hindustan Unilever (HUL) executive, has been appointed the new CEO and MD of Colgate-Palmolive (India) as Ram Raghavan moves to take over a role at the parent company.

“This is to inform that nomination and remuneration committee (“NRC”) of the board of directors of the company, at its meeting held today, noted that effective April 16, 2022, Ram Raghavan, managing director and CEO of the company has been promoted to president, enterprise oral care, for Colgate Palmolive Company, the parent company of Colgate-Palmolive (India) Limited and will be based out of its headquarter at New York,” it said.

“The NRC has further identified Prabha Narasimhan as managing director and chief executive Officer of Colgate-Palmolive (India) Limited and recommended her name to the Board of Directors for her appointment as such effective from September 1, 2022,” it added.

Issam Bachaalani, former MD Colgate-Palmolive (India), had handed over the reins to Raghavan in 2019 as he moved to a take over a role in the parent company. Raghavan had joined Colgate India in 1997 and was serving as vice-president, marketing, Asia Pacific division of oral care before being promoted to be the MD of the company.

Narasimhan’s departure from Hindustan Unilever (HUL) was announced by the company earlier this week. She is the executive director, home care (HC) for HUL and vice president, HC, Unilever, South Asia.

“Prabha led home care to deliver a strong performance across South Asia over the last two years. She has contributed immensely towards embedding the clean future agenda into the home care product development strategy,” Sanjiv Mehta, CEO and MD, had said in statement while announcing the management restructuring.

Narasimhan had joined HUL in 2006 as a regional marketing manager after a brief stint as general manager-strategy at Madura Garments. She has spent over 15 years with the company in various roles.

“Under Prabha’s leadership in 2016-19, Hindustan Unilever’s skin care business delivered a spectacular market-beating growth rate,” said HUL’s website.

“This was enabled by a broad-based performance delivery across all brands and sub-segments – colours business delivering high double – digit growth during the entire tenure, strengthening of our flagship brand Glow & Lovely and entry into newer skin care segments,” it added

Prabha moved to the home care role in early 2020, said HUL’s website.

Prabha has over 23 years of experience across consumer marketing insights, customer development and marketing roles in multiple geographies (South Asia & NAME) and categories (beauty and personal Care and refreshment), according to the website.

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Storyboard18 | “Add value, not intelligence,” Ram Raghavan, Colgate’s MD on leadership

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Ram Raghavan opens up about his journey from management trainee to marketing director to managing director, in an exclusive interview with Storyboard18

Several career marketers have made bold and confident transitions to lead organizations. They bring with them training and traits which are more critical today than ever before. In our ‘Marketers to Leaders – Journeys to the corner office’ series we track one such remarkable journey. In a special interview with Storyboard18’s Delshad Irani, Colgate-Palmolive India’s MD, Ram Raghavan, talks about his view on leadership and the company’s approach to career development, as he opens up about his journey from management trainee to marketing director to managing director.

Edited excerpts.

To start off, tell us about your journey at Colgate-Palmolive?

It’s been almost 25 years at this wonderful organization. It’s an unbelievably humbling experience to be sitting in the corner office of the same company that you joined as a trainee. One of the best parts about the journey has been how we at Colgate look to approach careers and people’s personal growth opportunities.

Classically, it’s always been looked at as a ladder, a corporate ladder. But we prefer to call it a honeycomb. It’s a honeycomb which is made up of a series of diverse experiences that are strategically and thoughtfully put together so that it brings together a phenomenal set of experiences where people continue to grow and learn along the way. It’s a more holistic outlook to making sure that you have the breadth of experiences that best enables you then to be in those kinds of leadership roles.

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My marketing assignments gave me a more holistic outlook to the organization because marketing as a function tends to touch upon everything from R&D to sales, supply chain and finance. I started in sales or customer development, and very early in my career I had the opportunity to manage a team. Something that in other functions, perhaps you would do significantly later. Sales also helps you amplify that mindset of getting things done, a results orientation.

Fundamentally, I would say my journey at Colgate has really been one of integration and of diverse, rich and wide set of experiences.

Can you share some examples of how your previous roles helped you become a better leader?

I had the great opportunity of working in Colgate Latin American’s operations and I was heading innovation. If you’re doing Innovation, more often than not, you’ll fail about seven times. And those three times that you’ll do well, you’ll do really well. What it really teaches you then as a leader is resilience and overcoming the fear of failure. Then when you are in the corner office, the courage you have to learn or experiment, the comfort you have making decisions knowing fully well that some of them will be wrong, is unbelievable.

Similarly, one of our strengths as an organization is what we call a constant ‘external mindset’. So even today, I spend time in kirana stores in the smallest of towns and do home visits. I go to people’s homes, and when they give us permission, I enter their bathrooms as well and I look at what’s inside their bathroom closets.

When you go to a consumer’s home and you sit down and have a conversation with them, a lot of people will often give you responses that they expect you want to hear. But then you start listening with your broader set of senses. You start listening with your eyes. It’s the power of observation. We look for body language, we look at how their homes are decorated, and each of those aspects gives you a richer and a deeper insight into the true psyche, behaviour and what’s really making them tick. Fast forward to where I am today. That people centric mindset and approach allows me to amplify my levels of empathy.

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My experience in sales and leading people has taught me that my job as a leader is not to solve the problem, it is to provide clarity. It is to be able to ask the right questions and create the right playground, so to speak, where people can thrive and prosper and great things happen.

We’ve noticed new-age firms also betting on marketers to lead them. There are very successful startup brands helmed by leaders and founders with backgrounds in marketing and sales or CMOs who transitioned to CEOs. Perhaps they’re borrowing from the leadership playbook of legacy companies like Colgate.

In a startup ecosystem, you may or may not have the most classical functional delineations; you may not have the structural profiles of what you define as a legacy organization. It has given rise to wonderful leadership skill sets like risk taking, entrepreneurial skills, ability to have a holistic outlook very early in your career. So it has, to some extent, broken the classic cookie-cutter approach of how your career has to be built.

Now, on the flip side of it is even legacy organizations have very different things to teach and help people grow. They give you a phenomenal exposure to structure and processes that allow you to scale as well as gain subject matter expertise. The depth of a particular thing that you want more information, knowledge or understanding of is phenomenal.

This future actually is going to allow for unbelievably well thought through leaders to emerge. And at the same time, it’s going to allow for people to continually grow and be challenged because you’re going to have to do something different. You cannot be static anymore.

Do startups take earlier bets on people vis à vis legacy firms?

I don’t know about how other corporations operate. But I think what the startup environment has done is, it has most certainly asked every one of us to rethink how we build leadership profiles, and offer career opportunities.

I can only talk about our programme and one of the things we’re extremely proud of is a programme that I originally joined at the company over 20 years ago. It’s been rechristened LEAP – Leadership Experiences and Advancement Programme.

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The core of the programme rests on the fact that we now realize that talent is looking for a lot more. They want experiences and they want these experiences earlier in their careers. The LEAP model looks to make sure that you get the principles of whatever it takes to succeed, run great businesses and build brands, while at the same time you’re equally embedded in the new, in the cutting-edge.

This hybrid approach to leadership development allows us to actually help people frame career profiles. Now our whole challenge is extending these principles to folks who are 10, 15 years into their careers as well.

The other variable that I think new business models have taught us is skills like design thinking. Having been through the course myself, it’s been one of the most eye-opening learning experiences. The first principle of design thinking is about designing for people. There are going to be skills like this, that perhaps weren’t in the older curriculums of leadership development. And now they’re going to be an integral part of it.

What’s the best advice you have for people looking to transition into leadership roles?

The first and biggest, broad piece of advice I’ll offer is build a leadership point of view early in your career. And put yourself in touch with people who are genuinely concerned about your growth.

My leadership lessons:

  1. Listening with empathy.
  2. Courageousness. Have the courage to own and drive change, and start with yourself before anything else. It helps build resilience and it helps overcome fear of failure.
  3. Amplify your curiosity quotient.
  4. You can never provide certainty as a leader, but you can certainly give clarity. That’s the role of a leader.
  5. A lot of leaders will give orders but then back off. Hold yourself accountable for outcomes.
  6. An evergreen leadership trait for me, personally, is integrity. Do what’s right, not what’s easy. This is going to hold itself true even more as we get into a world of amplified ESG principles.
  7. Common sense. I think it’s a highly underrated trait.
  8. Have a sense of humour. I’m not saying become a stand up comedian. This is Colgate, smiles kind of come naturally to us. But it’s amazing, when you smile in a meeting, for example, instantly the mood changes. Being light-hearted is a phenomenal skill.
  9. Add value, not intelligence. And sometimes adding value as a leader could mean saying nothing at all, by learning to let go and letting your team and people take you forward.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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