Short Term Buy Call For Godrej Industries

Short Term Buy Call For Godrej IndustriesTechnical analyst Shardul Kulkarni of Angel Broking is bullish on Godrej Industries Ltd and has recommended 'buy' rating on the stock with a short-term target of Rs 245.

According to analyst, the interested investors can buy the stock above Rs 235 with a stop loss of Rs 230.

Today, the stock of the company opened at Rs 230 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 247.70 and a low of Rs 141.20 on BSE.

Current EPS is -0.41.

For the three month period ended September 30, Godrej Industries has registered a growth of 12.53%in its consolidated net profit, which stood at Rs 75.03 crore.

Diversified biz firm said that it had a consolidated net profit of Rs 66.67 crore during the three month period ended September 30, 2009,

During July-September period, the company's net sales climbed 20.2% to Rs 989.60 crore as compared to Rs 822.95 crore registered during the same period of last fiscal.

Godrej Industries Chairman A B Godrej stated, "Our operating chemicals business has shown a steady growth in both sales and profits over the previous year on the back of our continued eforts to improve efficiency and reduce costs."

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