On June 06, Godrej Consumer Products shares plunged 1% in the early morning trade. The business has appointed Aasif Malbari as the company’s Chief Financial Officer (CFO), effective August 10, 2023.

Currently, Aasif serves as the CFO of Tata Passenger Electric Mobility Limited and the Director of Tata Motors Passenger Vehicles Limited. He will serve in place of Sameer Shah, moving to a group role leading consumer investment.

Foreign broking and research firm JPMorgan has shown an “overweight” rating to the stock and target price of Rs 1,075 per share. The company anticipates working more efficiently, stable and return accretive business in Africa.

On May 10, the company reported a 24.5% YoY growth in combined profit at Rs 452.1 crore for the March 31, 2023 quarter. Consolidated revenue grew by 10% YoY to Rs 3,200.2 crore in Q4FY23 with volume growth of 6%.

At 9:38 am, Godrej Consumer Products traded at Rs 1,056.00, up Rs 3.25, or 0.31% on the BSE.

The share moved a 52-week high of Rs 1,073.90 and a 52-week low of Rs 708.60 on June 01 2023, and June 17 2022, respectively.

It traded 1.67% below its 52-week high and 49.03% above its 52-week low.