Gillette India, maker of men's shaving products, surged in Monday's trade after the company reported a strong set of quarterly earnings.
Gillette said its fourth quarter net profit surged 334 percent to 72.8 crore rupees from 16.8 crore rupees in the same quarter a year ago. Gillette's sales gained 12.3 percent to 540.9 crore rupees from 479.4 crore rupees over the same period.
Gillette rose 105 rupees, or 2.2 percent, to 4,976 rupees on the National Stock Exchange, where 16,900 shares changed hands versus the 5-day average of 12,746 shares.
Gillette has seen its market capitalisation surge 93 percent in the past one year to 16,270 crore rupees as investors sought the safety of predictable revenue and profit streams in a company with international brands and lineage.
Gillette is trading 22 times its book value of 223 rupees. Its sales have grown 21 percent compounded in the last 5 years.
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