Godrej Consumer Products share price plunges 10% after weak mid-Q3 update; Should you buy the FMCG stock?
Godrej Consumer Products share price plunged 10% in early trade on Monday after the FMCG company reported weak mid-quarter business update, highlighting demand headwinds. Godrej Consumer Products shares declined as much as 10% to ₹1,112.05 apiece on the BSE.
“The demand conditions in India have been subdued for the past few months which is evident in FMCG market growth. Despite the demand conditions, GCPL has over the past six quarters consistently delivered an average organic UVG of ~7% on the back of category development supported by innovations and media investments,” Godrej Consumer Products said in its mid-Q3 business update.
The surge in palm oil and derivatives prices to the extent of a YoY increase of 20-30% has impacted…
