Buy Godrej Industries, target price Rs 585: IIFL

IIFL has buy call on Godrej Industries with a target price of Rs 585. The current market price of Godrej Industries Ltd. is Rs 566.8.

Time period given by analyst is Intra Day when Godrej Industries Ltd. price can reach defined target.

Godrej Industries Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 19093.21 Crore) operating in Diversified sector.


Godrej Industries Ltd. key Products/Revenue Segments include Chemicals, Oil Vegetable, Dividend, Rental Income,
Export Incentives, Scrap, Wind Energy for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3100.90 Crore, up 11.33 % from last quarter Total Income of Rs 2785.27 Crore and up 46.36 % from last year same quarter Total Income of Rs 2118.75 Crore. Company reported net profit after tax of Rs 104.17 Crore in latest quarter.

Investment Rationale
Stock is forming a double bottom pattern on the daily chart.

Promoter/FII Holdings
Promoters held 62.2 per cent stake in the company as of June 30, 2020, while FIIs held 9.3 per cent, DIIs 4.7 per cent and public and others 21.8 per cent.