Centrum Broking gives 'buy' call for Godfrey Phillips India, UPL

Brokerage house Centrum Broking has given a 'buy' call for Godfrey Phillips India and UPL shares.

Godfrey Phillips India is an FMCG company which sells cigarette brands like Four Square, Red & White, and Cavanders.

"International business including unmanufactured tobacco saw weak growth. Despite key markets such as Gujarat/Maharashtra and north saw disruption, Q3 volumes saw good uptick led by Marlboro (introduced Rs 6 price point)," the brokerage said.

The brokerage kept the target price at Rs 1,482, against Rs 1,154 on Wednesday's close.

For UPL, the target is at Rs 960 as compared to its current price of Rs 786.

"UPL registered strong growth in all its international markets including North America, Europe, Latam and Rest of World (RoW). Indian operations remained flat on YoY basis. In US market, herbicides were key growth driver. Also, better commodity prices, tight supply of key products and favorable channel stock supported the growth."

The agrochemicals company's realisations are favorable on account of better commodity prices, it added.

Besides, the brokerage has given 'add' call for Mold-Tek Packaging with a target of Rs 808. On Wednesday, the shares settled at Rs 760.

The company's capacity expansion plan would support its shares, the brokerage added.

--IANS

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