Colgate-Palmolive Gains; Credit Suisse Upgrades

Colgate-Palmolive Gains; Credit Suisse Upgrades

Colgate-Palmolive (India) Ltd shares were trading up 2.4 per cent on Tuesday.

Credit Suisse upgraded the stock to "outperform" from "underperform." It said consumer goods sector was seeing "improving consumption growth, easing input costs and benign competition".

The brokerage said Colgate-Palmolive would benefit as competitive risk from Procter & Gamble Hygiene and Health Care Ltd has abated.

Marico Ltd also gained 1.1 per cent. Credit Suisse called Marico its top pick in the mid-cap consumer space.

Copyright: Thomson Reuters 2014

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