Query corner: Godrej Industries

Source :

BUSINESS_LINE

Last Updated: Sun, Sep 27, 2009 15:16 hrs

I would like to know your views on the prospects of Godrej Industries with a 1 year time frame. Prem

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Godrej Industries (Rs 198.9): Godrej Industries appeared set to decline in to a bottomless pit when we visited this stock in March this year. It was hard to envisage a move past Rs 100 then. But the stock has rebounded brilliantly to the recent peak of Rs 213. Immediate resistance for the stock is at Rs 220.

A reversal below this level can result in a decline to Rs 150 or Rs 112. Investors can hold the stock with a stop at Rs 145.

A strong close beyond Rs 220 will take the stock to the next targets at Rs 276 or Rs 330.