Godrej Agrovet up over 12% after Kotak raises target ₹1,010
Godrej Agrovet's shares shot up over 12% on Tuesday, continuing a two-day rally.
The boost came after Kotak Institutional Equities raised its target price to ₹1,010 per share, suggesting the stock could climb 64.22% upside from yesterday's close at ₹615.
This is quite a leap from Kotak's previous target of ₹850 set in July 2026.
Kotak sees Godrej Agrovet palm growth
Kotak spotlighted Godrej Agrovet's palm oil segment as a growth driver, with EBITDA from this business expected to more than double by FY31 thanks to strong fruit bunch volumes.
The company is aiming for ₹4,500 crore in revenue and margins above 23%.
Even though net profit dipped 13.8% in Q1 FY27, all five analysts tracking the stock still recommend buying it, pointing to its long-term potential.
The stock has gained 22.42% in the past month and is currently trading at ₹670, just below its yearly high.