Stock market analyst Hitendra Vasudeo of stockmechanics.com maintained ‘Buy’ rating on Colgate Palmolive to achieve an intraday target of Rs 613.

According to Mr. Vasudeo, interested traders can buy the stock around Rs 595.30 - Rs 602.60 with a strict stop loss of Rs 590.

Mr. Vasudeo also said that if the stock market remains on the positive track, the stock will hit another target of Rs 630.90 in today’s session.

Shares of the company, on Tuesday (June 30), closed at Rs 605.90, up Rs 15.85, on the Bombay Stock Exchange (BSE). The total volume of the shares traded stood at 88,023841. The scrip hit an intraday high of Rs 609.80 and an intraday low of Rs 592.

Current EPS & P/E ratio stood at 21.34 and 28.39 respectively. The share price has seen a 52-week high of Rs 609.80 and a low of Rs 341 on BSE.

On June 30, Colgate Palmolive India Ltd declared that a meeting of the Board of Directors of the Company will be held 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 quarter ended March 2009, Colgate-Palmolive announced a growth of 38.57% in its net profit, which stood at Rs 770.70 million as against Rs 556.20 million in the same quarter last year.

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

The company posted EPS of Rs 5.67 per share during the 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.