Buy Godrej Industries, target price Rs 524: Sharekhan by BNP Paribas

economictimes.indiatimes.com:

Godrej Industries with a target price of Rs 524. The current market price of Godrej Industries is Rs 495.95.

Sharekhan by BNP Paribas recommended to keep stop loss at Rs 483. Godrej Industries, incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 16682.11 Crore) operating in Diversified sector.

Godrej Industries key Products/Revenue Segments include Chemicals, Oil Vegetable, Dividend, Rental Income, Export Incentives, Scrap, Wind Energy for the year ending 31-Mar-2022.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 4893.40 Crore, down -3.77 % from last quarter Total Income of Rs 5085.24 Crore and up 15.34 % from last year same quarter Total Income of Rs 4242.46 Crore. Company has reported net profit after tax of Rs 146.66 Crore in latest quarter.Investment Rationale Breakout from a falling channel with above average volume indicating trend reversal from down to up.Promoter/FII Holdings Promoters held 67.17 per cent stake in the company as of 30-Jun-2023, while FIIs owned 10.76 per cent, DIIs 1.28 per cent.