Godfrey Phillips shares surge 16% in 2 days, hit 52-week high. Here's why
Live Events
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Shares of Godfrey Phillips India rallied 16.4% over the last two sessions after the company posted strong Q1 earnings and announced a bonus issue. In Wednesday's trade, the stock jumped nearly 6% to hit a 52-week high of Rs 10,464.1 on the BSE.On Monday, the cigarette maker reported a 56% year-on-year (YoY) rise in consolidated net profit to Rs 356.28 crore for the June quarter, driven by higher sales. In the same quarter last year, profit stood at Rs 228.55 crore.Revenue from operations rose to Rs 1,813.26 crore from Rs 1,358.81 crore a year ago. Total expenses increased to Rs 1,506.68 crore from Rs 1,118.49 crore in the corresponding period.The company's board approved a bonus share issue in a 2:1 ratio — two fully paid-up bonus shares of Rs 2 each for every one existing share — through capitalisation of general reserves and/or retained earnings. The issuance is subject to shareholder and regulatory approvals.According to Trendlyne, the average target price for Godfrey Phillips stands at Rs 1,787, indicating an upside potential of 11% from current levels. The stock holds a 'Buy' recommendation from 19 analysts.At 10:19 am, shares of Godfrey Phillips were trading 5.2% higher at Rs 10,400. The stock is up 107% year-to-date and has gained nearly 420% over the past two years. Its current market capitalisation stands at Rs 54,106 crore.Godfrey Phillips India is one of the leading FMCG Companies in India, the flagship company of KK Modi Group. They have many iconic cigarette brands like Four Square, Red & White, and Cavanders to their name.It also has an exclusive sourcing and supply agreement with Philip Morris International to manufacture and distribute the renowned Marlboro brand in India.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
18 minutes ago
- Indian Express
How Bengaluru Metro's Yellow Line finally made it to the finish line after 8-year delay
After a delay of eight years, Bengaluru Metro's much-anticipated 19.15-km Yellow Line will finally be inaugurated by Prime Minister Narendra Modi on August 10. The corridor connects RV Road and Bommasandra and links Bengaluru South to key manufacturing and tech firms located at Electronic City, including Infosys, Biocon, and TCS. Consisting of 16 stations, the new line will increase the metro rail network to 96 km and is expected to significantly decongest traffic especially near the infamous Silk Board Junction. However, the project was dogged by several issues ranging from land acquisition delays to rolling stock production amplified by the India-China conflict. Here's a breakdown of how the project went off track and fell back in line to completion. Onboarding domestic partner However, due to rising geopolitical tensions following the Galwan clash between India and China, the Government revised its strategy and directed CRRC to partner with Kolkata-based Titagarh Rail Systems Limited to manufacture the rakes domestically. But this localisation came with its own set of challenges. Delays in the production line, visa issues for CRRC engineers, and hold-ups in the delivery of the Train Control and Management System (TCMS) software by Mitsubishi Electric Company (Melco) further pushed the project timeline into uncertainty. Pressure to appoint full-time managing director At this juncture, Bangalore South Member of Parliament Tejasvi Surya also pressed both state and central authorities to fast-track the remaining work. In 2023, he launched a campaign advocating the appointment of a full-time managing director for Bengaluru Metro Rail Corporation Limited (BMRCL). After three months of sustained lobbying and meetings with the Ministry of Housing and Urban Affairs and the state government, a dedicated MD was finally appointed—freeing up much-needed executive bandwidth to resolve bottlenecks. Meanwhile, the Yellow Line's cost escalated to Rs 7,610 crore—about Rs 400 crore per km, a 32 per cent jump from BMRCL's original estimate. First prototype train arrived in February 2024 Finally, CRRC delivered its first six-coach prototype (driverless with communication-based train control) train set in February 2024. With the involvement of the Ministry of External Affairs and the Ministry of Finance, issues linked to visas and customs clearance for CRRC engineers and imported components were resolved to speed up production of coaches at the Titagarh factory. On January 6, 2025, the first train set was rolled out and dispatched from Titagarh Rail Systems. This was followed by a second train set that arrived at Benglauru's Hebbagodi depot on February 9. Later between April and May, six other coaches reached Bengaluru, making it a total of three train sets, prompting BMRCL to speed up the process for commercial operations. A long wait for ISA clearance Despite these advancements, BMRCL had not yet committed to an official launch date by mid-2025. This is due to the delay in receiving the independent safety assessment (ISA) report, which allows BMRCL to call for an inspection by the commissioner of metro railway safety (CMRS). The ISA report was delayed due to technical glitches discovered during the review of key datasets, which required software updates. Without this report, the BMRCL could not proceed with the mandatory CMRS inspection. However, the ISA clearance was accorded on July 19, following which CMRS inspection was sought. CMRS inspection and green light for commercial operations On August 1, the CMRS cleared the Yellow Line for revenue operations but flagged several issues including unauthorised welding work, incomplete structural tests, non-functional lifts, and incorrect signage in some stations. Meanwhile, on August 2, Union Minister for Home and Urban Affairs Manohar Lal Khattar announced that Prime Minister Narendra Modi will inaugurate Namma Metro's Yellow Line and also lay the foundation stone for the 44.65-km Phase-3 expansion of the metro rail network on August 10. BMRCL plans to operate the Yellow Line from August 11 (Monday) with three trains running at a frequency of 25 minutes from RV Road to Bommasandra.
Economic Times
21 minutes ago
- Economic Times
MapmyIndia to invest Rs 25 crore in Zepto
Homegrown digital mapping services company MapmyIndia will invest Rs 25 crore in quick commerce startup Zepto for a 0.049% stake, according to regulatory filings made with the said in the filing that its board has approved the proposal to invest in Zepto. Last month, Mumbai-based non-banking finance company Elcid Investments had picked a small stake in Zepto for Rs 7.5 crore. Investments by both MapmyIndia and Elcid Investments value Zepto at Rs 51,000 crore (around $5.9 billion) These share purchases are being done via secondary transactions. Zepto has been in the process of closing a $250-million secondary deal, in which shares are being sold by private equity firm Motilal Oswal Financial Services. This secondary sale is designed to further increase Indian ownership and clean up the company's cap table ahead of its proposed public listing. Zepto's founders Aadit Palicha, Kaivalya Vohra and the company's employee stock ownership (Esop) pool together currently hold around 28% share, according to people in the know. The company aims to add another 8-10% of Indian shareholding through these transactions before the IPO paperwork is filed. Palicha and Vohra are also looking to close a structured debt transaction through which they are to pick up Rs 1,500 crore worth of stake in the company financed via debt from Edelweiss Alternative Asset, domestic family offices and smaller credit funds.
Economic Times
21 minutes ago
- Economic Times
HPCL Q1 Results: Standalone PAT skyrockets 1,128% YoY to Rs 4,371 crore, revenue sees marginal decline
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
