Buy Godrej Industries Ltd. target Rs 505 : IIFL

IIFL has a buy call on Godrej Industries Ltd. with a target price of Rs 505.The current market price of Godrej Industries Ltd. is Rs 444.3 The brokerage gave a year's time for Godrej Industries Ltd. price to reach defined target. The brokerage said that it expects long-term upside in the stock driven by strong earnings growth across its key businesses accompanied by possible value unlocking in Godrej Agrovet through an IPO. It said recovery in Godrej Agrovet's earnings growth off a cyclical trough and its eventual listing could be key catalysts.