Rs. 24 Dividend: November 04 Record Date; Colgate Share Price Target?

As the nation's market leader in oral care, Colgate-Palmolive (India) Limited is dedicated to providing its shareholders with steady, profitable development while promoting an inclusive workplace for all of its employees. The firm is renowned for its leadership and creative efforts in promoting sustainability and community well-being, with a major focus on science-led innovations in oral care and personal care in the Indian market.

Colgate-Palmolive Dividend

The Board of Directors made "Declaration of First Interim Dividend of Rs. 24/- (Rupees Twenty Four Only) per equity share of face value of Re.1/- for the Financial Year 2024-25. The said interim dividend will be paid on and from November 21, 2024 to those shareholders whose names appear in the Register of Members/Beneficial Owners of the Company as on the Record date i.e. November 04, 2024," said the company in a stock exchange filing.

Colgate-Palmolive Financials

For the quarter that ended in September 2024, Colgate-Palmolive India Ltd. recorded a 16.17% rise in net profit totalling Rs 395.05 crore. A regulatory filing by Colgate-Palmolive India Ltd (CPIL) states that the oral hygiene product manufacturer reported a net profit of Rs 340.05 crore for the July-September quarter of last year. In the quarter under review, its sales increased 10.04 percent to Rs 1,609.21 crore. In the same time last year, it stood at Rs 1,462.38 crore. In the most recent September quarter, CPIL's total expenses increased 13.6% year over year to Rs 1,695.09 crore. With other income included, the company's overall income was Rs 1,164.64 crore, representing an annual increase of 12.60 percent.

Colgate Share Price Target

Hardik Matalia - Derivative Analyst at Choice Broking said, "COLPAL is currently trading around 3,082.20, indicating a loss of recent momentum. The stock has recently dropped below the 20-day and 50-day Exponential Moving Averages (EMAs), signaling strong selling pressure and bearish dominance. This decline is part of a broader 21% correction from recent highs, which has established a clear downtrend characterized by lower highs and lower lows. Notably, COLPAL is now trading near its 200-day EMA, a significant level. If this support is breached, it could further accelerate downside momentum."

"Immediate support is expected around the 3,000 level, with additional support likely near 2,850. Resistance, meanwhile, is positioned at 3,300. The Relative Strength Index (RSI) currently stands at 37.10 and is trending downward, which signals continued bearish momentum and limited buying interest at these levels. In summary, technical indicators and market conditions suggest a cautious approach, with a bearish outlook prevailing. Given the current setup, traders are advised to exercise caution with long positions, with a strategy focused on selling or taking short positions as the downward trend remains dominant," the analyst further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.