Godrej Consumer Products climbed up 3.24% to Rs 140.20 on reports that the firm is looking at a range of alternatives including a follow-on public offering to lift up to Rs 400 crore.

The BSE Sensex was up 388.06 or 2.59% to 15319.09, on constructive worldwide clues after the US Federal Reserve left interest rates unaltered on Tuesday, 7 August 2007.

Today, the scrip reached a high of Rs 145 and a low of Rs 139 during the day. There were 34,283 shares of the scrip for trading on the BSE counter. The stock experienced an average daily volume of 35,051 shares on BSE in the last three months period.

With 22.58 crore outstanding shares of a face value of Rs 1 per share, the company’s equity capital stood at Rs 22.58 crore.

At existing price of Rs 140.20 the scrip trades at a PE multiple of 22.11, which is based on Q1 June 2007 annualized earning per share (EPS) EPS of Rs 6.34. The mid-cap scrip slumped 1.56% in the one month to 7 August 2007 as against Sensex’s 0.75% slump. It had descended 1.38% during last one quarter versus Sensex’s 8.35% increase.

According to the reports, Godrej Consumer Products is searching all possible options to lift funds, which include an ensuing public offering, rights issue, qualified institutional placement, foreign currency convertible bonds or even a rights issue. The company has talked to lots of merchant bankers and should finalize one of them shortly.

At the AGM on 3 August 2007, the company’s shareowners sanctioned the company’s plans to rise up to Rs 400 crore through various resources.

The company is also looking for acquisitions in the Indian as well as international markets to develop its product portfolio. In Q1 June 2007, its net earnings climbed 17.4% to Rs 35.79 crore on 23.1% increase in sales to Rs 235.85.