Buy Godrej Consumer Products, target price Rs 990: Yes Securities

Yes Securities has buy call on Godrej Consumer Products with a target price of Rs 990. The current market price of Godrej Consumer Products Ltd. is Rs 948.3.

Godrej Consumer Products Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 96962.37 Crore) operating in FMCG sector.

Time period given by analyst is intraday when Godrej Consumer Products price can reach defined target.


Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2747.31 Crore, down -10.52 % from last quarter Total Income of Rs 3070.45 Crore and up 24.71 % from last year same quarter Total Income of Rs 2202.96 Crore. Company reported net profit after tax of Rs 365.80 Crore in latest quarter.

Investment Rationale
Stock has resumed uptrend after breaking out of a narrow consolidation phase after its recent correction. Technical indicator RSI remains in the bull territory, suggesting extended upside in the stock.

Promoter/FII Holdings
Promoters held 63.2 per cent stake in the company as of March 31, 2021, while FIIs held 26.6 per cent, DIIs 3.1 per cent and public and others 7.1 per cent.