Stock market analyst Hitendra Vasudeo of stockmechanics.com maintained ‘Buy’ rating on Colgate Palmolive to achieve a target of Rs 664 in 2-3 trading sessions.

According to Mr. Vasudeo, interested traders can buy the stock between Rs 648 - Rs 638 with a strict stop loss of Rs 632.

Mr. Vasudeo also said that if the stock market remains on the positive track in the coming days, the stock will hit another target of Rs 690 in the said time period.

Today, the shares of the company opened at Rs 655 as against its last closure of Rs 654.45 on Thursday (July 08) on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 21.34 and 31.53 respectively. The share price has seen a 52-week high of Rs 658 and a low of Rs 341 on BSE.

Apart from Mr. Vasudeo, Hem Securities also assigned `Buy` on Colgate Palmolive with a target price of Rs 740.

Colgate Palmolive India Ltd declared that a meeting of the company’s directors will take place on July 17, 2009, to take on record and approve the unaudited financial results for the quarter ending June 30, 2009 (Q1).

In standalone net profit for the three month period ended March 2009, Colgate-Palmolive posted a growth of 38.57% in its net profit at Rs 770.70 million as compared to Rs 556.20 million during the same period of the last year.

Net sales for the quarter increased 20.67% to Rs 4,722.00 million, whereas total income for the period surged 15.33% to Rs 4,760 million.

The company registered EPS of Rs 5.67 per share during the fourth quarter.

Effective April 02, 2008, Colgate-Palmolive bought 75% of the shareholding or CC Healthcare Products Ltd for Rs 19.38 million.

Pursuant to the scheme of amalgamation, sanctioned by order dated Feb. 24, 2009, SS Oral Hygiene Products, a wholly-owned subsidiary of the company, has been amalgamated with effect from April 01, 2008.

Colgate Palmolive India is amongst the biggest Indian FMCG companies with being a market leader in oral care section.

With plans to capture rustic sector, raw material costs cooling and resourceful advertising and sales promotion actions, the company would perform well together with grasping a big market share.