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Last Updated : Feb 27, 2017 04:35 PM IST | Source: Moneycontrol.com

Hold Godrej Industries; target of Rs 517: Axis Direct

Axis Direct recommended hold rating on Godrej Industries with a target price of Rs 517 in its research report dated February 23, 2017.

 
 
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Axis Direct's research report on Godrej Industries


Current value of GCPL + GPL = Rs 175 bn (excl. holdco discount) equals to the current M-Cap of GIL, implying GAVL is available free. If a 20% holdco discount were to be assumed on the current value of GIL's holding in GCPL+Godrej Prop, it works out to Rs 140 bn.


Outlook


While this caps immediate upside, we remain positive onGIL as we believe profits of the underlying assets are set to compound at 20-25% p.a. over the next couple of years. Recommend HOLD with SoTP-based TP of Rs 517.

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First Published on Feb 27, 2017 04:35 pm
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