godrej consumer products share price: Buy Godrej Consumer Products, target price Rs 750: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has a buy call on Godrej Consumer Products Ltd. with a target price of Rs 750.0. The current price of Godrej Consumer Products Ltd. is Rs 717.55 Time period given by the analyst is Intra Day when Godrej Consumer Products Ltd. price can reach defined target. . Chandan Taparia recommended to keep a stoploss at Rs 700 .

Godrej Consumer Products Ltd., incorporated in 2000, has a market cap of Rs 73330.75 crore.

Investment Rationale

Higher top-higher bottom along with strong momentum and support of rising trend line.

Quarterly Results

Source: ETMarkets.com

Financials

For the quarter ended March 31, 2020, the company reported consolidated sales of Rs 2132.69 crore, down -22.59 per cent from last quarter sales of Rs 2755.08 crore and down -12.22 per cent from last year’s same quarter sales of Rs 2429.68 crore. The company reported net profit after tax of Rs 230.11 crore in the latest quarter.

Promoter/FII Holdings

Promoters held 63.24 per cent stake in the company as of March 31, 2020, while FIIs held 26.34 per cent, DIIs 3.1 per cent and public and others 7.32 per cent.