Buy Godrej Consumer, target Rs 222: Kunal Saraogi

Kunal Saraogi, CEO at Equityrush.com recommends a buy rating on Godrej Consumer with a target price of Rs 1525 and a strict stop loss placed at Rs 1470. The stock has gained 18 per cent so far in the calendar year 2016. The stock is looking bearish on the charts.

Godrej Consumer is a high beta stock (1.87) and is trading well above its 50-day, 100-day and 200-day moving aberages placed at Rs 1357.97, Rs 1280.85 and Rs 1279.25, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 68.44 and P/B of 11.74.