Buy Godrej Consumer; target of Rs 616: IIFL

IIFL is bullish on Godrej Consumer and has recommended buy rating on the stock with a target of Rs 616 in its July 19, 2012 research report.

“Godrej Consumers Ltd has ended its consolidation phase after prices managed to confirm a bullish breakout above Rs581 on Fridays trading session. The breakout point will now act as solid support for the counter and any dip to retest the breakout point will act as entry point. The amplitude of triangle provides target beyond Rs650 but which may be tested in next few months. We recommend buying Godrej Consumers below Rs582 with stop loss of Rs 565 for target of Rs 616. (Duration 7 days),” says IIFL research report.     

Bodies Corporate holding more than 50% in Indian cos

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment

Read More