Jayesh Bhanushali of IIFL has a buy call on
Godrej Properties Ltd. with a target price of Rs 710.0. The current price of Godrej Properties Ltd. is Rs 660.7 . Jayesh Bhanushali recommended to keep a stoploss at Rs 625 .
Godrej Properties Ltd., incorporated in 1985, has a market cap of Rs 16634.84 crore.
Investment Rationale
The stock has formed a bullish hammer candlestick pattern in the daily chart.
Financials
For the quarter ended March 31, 2020, the company reported a Consolidated sales of Rs 1163.05 crore, up 203.81 per cent from last quarter sales of Rs 382.82 crore and up 10.44 per cent from last year same quarter sales of Rs 1053.09 crore. The company reported net profit after tax of Rs 128.72 crore in the latest quarter.
Promoter/FII Holdings
Promoters held 64.44 per cent stake in the company as of March 31, 2020, while FIIs held 19.25 per cent, DIIs 4.98 per cent and retail investors 11.33 per cent.