Sharekhan is bullish on Godrej Consumer Products has recommended buy rating on the stock with a target price of Rs 865 in its research report dated November 06, 2019.
Sharekhan's research report on Godrej Consumer Products
Godrej Consumer Products (GCPL) domestic business revenue stood flat in Q2FY2020 due to price-offs in categories such as soaps and household insecticide (HI); volume growth improved to 7% (from 5% in Q1FY2020). HI category saw recovery in the performance with 4% growth after several quarters of lull performance. Indonesia business registered strong performance, while Africa business saw significant improvement in margins.
Receding concerns in domestic and international business provides good earnings visibility over the next two to three years; upgraded to Buy with revised price target of Rs. 865.
For all recommendations report, click here
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