Buy Godrej Industries, target price Rs 600: Yes Securities

Yes Securities has buy call on Godrej Industries with a target price of Rs 600. The current market price of Godrej Industries Ltd. is Rs 571.15. 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 19203.80 Crore) operating in Diversified sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2785.27 Crore, up 10.46 % from last quarter Total Income of Rs 2521.59 Crore and down -15.03 % from last year same quarter Total Income of Rs 3278.04 Crore. Company reported net profit after tax of Rs -126.96 Crore in latest quarter.

Investment Rationale
A sustained move above important averages is likely to keep the near-term structure positive. The appearance of a bullish weekly candle could resume the uptrend.


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.