Antique Stock Broking maintains 'buy' on Godrej Consumer Products, target price Rs 799

Antique Stock Broking has maintained buy rating on Godrej Consumer Products with a target price of Rs 799. The company's key performance drivers a) recovery in household insecticides b) reversion of aggressive price offers/price hikes in soaps c) improvement in profitability of GAUM and d) scaling up of Indonesia business are well in place, said Antique. The brokerage is optimistic about a ruralrecovery during FY21, which in turn will provide some fillip to the company's sales growth. Shares of Godrej Consumer Products ended up 3% at Rs 650.65 on Thursday.