Market Live: Nifty Opens Below 9650, Sensex Lower; RIL Up 1% - Dollar Advisory Financial Services

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Friday 9 June 2017

Market Live: Nifty Opens Below 9650, Sensex Lower; RIL Up 1%

Citi raised target price of Godrej Consumer Products to Rs 1,955 following increase in target multiple and 2 percent increase in EPS estimates.

"Our implied target multiple works out to 37x FY19– brought closer to peers reflecting Godrej Consumer's improving outlook and possibly return profile," the brokerage house said.

Like peers, FY18 could be a better year for GCPL despite GST transition in India, it feels. It estimated double-digit constant currency growth for the company.

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