Godfrey Phillips India Share Price Rises 4% on October 9, 2024

Godfrey Phillips India Ltd, a prominent player in the cigarettes and tobacco sector, is experiencing a notable surge in its stock performance as of October 9, 2024. 

On Wednesday, on the NSE, Godfrey Phillips India Ltd share price saw an impressive gain of about 4%, as of 11:39 AM. The share price of Godfrey Phillips India Ltd opened at ₹6,916.80 and reached an intraday high of ₹7,231.00, reflecting an increase from its previous closing price of ₹6,884.55. The stock touched its all-time high of ₹8,480.00 on September 16, 2024. 

This significant rise illustrates strong market demand and investor confidence in the company’s future prospects. Even on the BSE the stock price of the company opened at ₹6,928.45, touching its day’s high at ₹7,230.50, as of 11:43 AM. 

In its unaudited consolidated financial results for the quarter ending June 30, 2024, Godfrey Phillips reported a total income of ₹1,48,621 lakh, up from ₹1,29,808 lakh in the same quarter the previous year. However, the company’s profit slightly declined to ₹22,855 lakh from ₹25,444 lakh year-on-year. 

Tobacco stands as one of the most economically important agricultural crops globally. Over the past 5 years, India’s average tobacco production has been ~800 million kg. India ranks as the 2nd largest producer and exporter, following China and Brazil. In the 2022-23 period (up to August), India exported 68,550 tonnes of Flue-cured Virginia (FCV) tobacco. Major players in the sector, such as ITC Ltd and Godfrey Phillips India Ltd, significantly contribute to this industry, with market capitalisations of ₹6,27,943.99 crore and ₹37,253.90 crore, respectively.

About Godfrey Phillips India Ltd

Founded under the KK Modi Group, Godfrey Phillips India boasts a portfolio of iconic cigarette brands, including Four Square, Red & White, and Cavanders. Additionally, the company has an exclusive agreement with Philip Morris International to manufacture and distribute the globally recognized Marlboro brand in India, solidifying its position in the competitive FMCG landscape.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.