Motilal Oswal Maintains Neutral on Godrej Consumer Products

Our analysis of the recent market share data for Godrej Consumer Products (GCPL) suggests continued momentum in HI (home insecticides) and Soaps.

- Softening in palm oil prices also augurs well for near-term earnings performance.

- We upgrade our FY13 and FY14 earnings estimates by 3-8% to factor in the above.

- Our revised target price of INR740 (26x FY14E EPS) offers only 7% upside. Neutral.

Source : Equity Bulls

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