The stock of Gillette has been languishing for the last many years but was up around 5 percent on Friday aided by a positive brokerage note from Nirmal Bang.

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According to Nirmal Bang note, channel checks and surveys indicate healthy traction and brand recall in female grooming segment. The note adds that the continued growth in the company’s female grooming products is an important trigger for the stock.

The company has also announced their foray into electric razors, epilators, trimmers etc. To add to all of this, the company has also launched premium toothbrushes too.

In the last 5 years, the revenues of the company have grown at just around 5 percent, the profits have grown at just around 3 percent. The stock as a result is down 4 percent this year and down 25 percent in the last 5 years.

However, Nirmal Bang believes that the stock is inexpensive at current valuations of 37x FY25 earnings and has a target price of Rs 5,550.

Also Read: Men's grooming industry surges: A handsome revolution taking the world by storm

(Edited by : Pradeep John)