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Godrej Consumer jumps 13.8 pct

May 13, 2010

Shares of personal products maker Godrej Consumer Products vaulted nearly 14 percent on Thursday to the top of the BSE Mid-cap index with volumes of 0.65 million shares.

On Wednesday, U.S.-based Sara Lee Corp had announced it would sell its 51 percent stake in Godrej Sara Lee Ltd joint venture to Godrej Consumer Products for $233.7 million. Godrej on Thursday said its revenues would rise 86 percent in FY11 following the buyout.

Investors would be a happy lot as Godrej Consumer shares have gained over 16 percent in May so far.

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