In a few Ideas for Profit from Moneycontrol Pro, Nandish Shah talks about a stock that he is tracking closely, Godrej Consumer Products Ltd (GCPL). The stock remains a dark horse in the fast moving consumer goods (FMCG) sector and Shah continues to remain positive on it.

The company ranks amongst the largest household insecticides, haircare and healthcare players in India, Indonesia and Africa. The medium-term focus of the company would be on driving double-digit volume led growth primarily via penetration gains. The other levers of growth will be market share gains and disruptive innovations.

The stock trades at a P/E multiple of 43 times FY23 earnings. Investors with a medium-term and long-term view can accumulate and add on declines.

Watch the accompanying video for more details.