Momentum Pick: Godrej Consumer set for as much as 6-13% gains; appealing appraisal makes it a leading buy

Shares of Godrej Consumer Products (GCPL) are off their 52-week high of Rs 978 however look poised to breach this level for gains of 6-13%. With the assessments turning appealing, the stock might see a rally on beneficial technical and basic triggers. GCPL shares ended partially lower at Rs 969.90 on Wednesday. Godrej Consumer is a leading emerging market business with a turnover of more than Rs 12,000 crore. The group declares to have the support of 1.2 billion customers internationally throughout services. The business has an existence in essential item classifications such as soaps, hair colour, and HI. Technical View Godrej Consumer Products: Buy|Target: Rs 1,030|Stop Loss: Rs|Benefit: 6% GCPL is revealing a progressive upmove and looks poised to test levels in between Rs 1,000 and Rs 1,030 with assistance at Rs 920, Nilesh Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking stated. Godrej Consumer Products shares have actually offered returns of more than 19% over a 12-month duration, surpassing Nifty50 which has actually increased 1% throughout this duration, according to Trendlyne information. The typical volatility has actually been fairly low as the counter has actually traded with a 1-year Beta of 0.57. Trendlyne’s typical broker target on this stock is Rs 1,020. Momentum indications RSI and MFI remain in the medium series of 59.8 and 65.1, respectively, showing a more advantage from the existing levels. A number above 70 shows that the stock is selling an overbought area while a number listed below 30 recommends that the stock is oversold. Essential View Sharekhan: Buy|CMP: Rs|T
Find out more