GCPL shares hit 52-week low as new CEO’s inventory correction plan spooks market
GCPL’s new CEO Aasif Malbari had outlined plans to withdraw ₹125-₹150 crore of distributor inventory over the next three quarters in India, reducing general trade inventory from around 20 days to 10 days
The Hindu BusinessLine reports that Godrej Consumer Products Limited (GCPL) shares hit a 52-week low of ₹859.55 on the NSE, falling nearly 4% intraday amid concerns over new CEO Aasif Malbari's inventory correction plan. The stock's volatility and trading volume were driven by the company's announcement of withdrawing ₹125-150 crore of distributor inventory over the next three quarters, reducing general trade inventory from 20 days to 10 days.
Despite retaining their BUY ratings, Motilal Oswal Financial Services and HDFC Securities Institutional Equities acknowledged near-term pressure and emphasized that the stock's performance will depend on the execution under the new leadership.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
