Colgate's acquisition in Hyderabad-based CC Health Care Products

Colgate Palmolive India jumped 4.26% to Rs 427.05 at 14:21 IST on BSE after the firm acquired 75% stake in Hyderabad-based CC Health Care Products.

On BSE, 1.18 lakh shares of the scrip were traded. The stock had an average daily volume of 73,218 shares on BSE in past one quarter.

The scrip had touched a high of Rs 431 and a low of Rs 402 so far during the day. The stock had hit a 52-week high of Rs 521 on 7 January 2008 and a 52-week low of Rs 335 on 11 April 2007.

India’s leading oral care products maker has an equity capital of Rs 13.60 crore. Face value per share is Rs 1.

At the current price of Rs 427.05, the scrip trades at a PE multiple of 24, based on Q3 December 2007 annualised EPS of Rs 17.79.

The net profit of Colgate Palmolive rose 20.1% to Rs 60.47 crore on 14.0% rise in sales to Rs 367.51 crore in Q3 December 2007 over Q3 December 2006.

CC Health Care Products based in Hyderabad, has been manufacturing and supplying toothpowder to Colgate for the last several years.

Colgate Palmolive India (CPIL), a 51% subsidiary of US-based Colgate Palmolive Company, is a leading FMCG company in India in the oral care business.