Sudhir Sitapati (left) and Nisaba Godrej Godrej Consumer Products Limited (GCPL) has announced leadership team changes, effective from October 18, 2021. Sudhir Sitapati will join the company as managing director and chief executive officer. Nisaba Godrej, currently the chairperson and managing director of the company, will continue to serve as executive chairperson. With this move, the GCPL is looking to leverage Sitapati’s experience in building sustainable and profitable businesses to guide its growth strategy. Sitapati will join the company from Hindustan Unilever Limited (HUL), where he is the executive director – a position he has held since 2016. He has spent 22 years with HUL, where he has lead teams across categories and functions in India, Europe, South East Asia and Africa.
Godrej Consumer stock zooms 23% on new leadership, Q4 earnings
The company reported consolidated net profit of Rs 365.84 crore for the quarter ended March 31. Profit in the year-ago period stood at Rs 229.90 crore
BusinessToday.In | May 12, 2021 | Updated 12:35 IST
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Shares of Godrej Consumer Products soared 23 per cent to hit a fresh 52-week high of Rs 894.00 on BSE after the company reported strong earnings in Q4FY21 and appointment of new MD.
Godrej Consumer Products share is trading higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.
The share of FMCG major has gained 71 per cent in one year and risen 20 per cent since the beginning of this year. Market cap of the firm rose to Rs 90,530.93 crore on BSE.
“Brilliant step in our view as it addresses questions on professionalization at the top. HULs systems and processes are Gold standard for the sector and it will be a very positive development for GCPL,” brokerage firm Edelweiss Securities said on Sitapatis appointment.
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Read more about Market Wrap Podcast, May 12: Here s all that happened in the markets today on Business Standard. Tata Motors, PowerGrid, Titan Company, Maruti Suzuki, UPL, Cipla, State Bank of India, and NTPC were the top gainers on the 50-share index today, up between 1 per cent and 3 per cent