Sep 29, 2011, 02.51 PM | Source: CNBC-TV18
Buy Godrej Industries, says Nooresh Merani of AMSEC Research.
Nooresh Merani (more)
Technical Analyst, Asian Market Sec | Capital Expertise: Equity - Technical
Merani told CNBC-TV18, "Godrej Industries remains a personal favourite in the current market conditions where the downside would be capped at Rs 170-185 even in the worst condition. If you look at the current scenario, the current marketcap of the stock is equivalent to the holding value of various other investments which are listed like Godrej Properties and Godrej Consumer products.
He further added, "One can initiate a buy at current levels with short-term target price of Rs 220 as well as medium-term target price of Rs 250. My intraday target for the stock is Rs 199. One can keep a stop loss of Rs 185 for the trade."