Godrej Properties rises 4% as CLSA maintains buy with 17% upside

The share touched its 52-week high Rs 917 and 52-week low Rs 462 on 08 May, 2018 and 10 October, 2018, respectively.

Shares of Godrej Properties rose 4.2 percent intraday Thursday after CLSA maintained buy call on the stock with a target at Rs 1,024 per share.

According to CLSA, the record new launches are driving the share gains. The company is nearing its target of launching one new project per quarter.

The company remains a major consolidation beneficiary and is the top pick in the sector, CLSA added.

At 1109 hours, Godrej Properties was quoting at Rs 871.30, up Rs 17.55, or 2.06 percent on the BSE.

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The share touched its 52-week high Rs 917 and 52-week low Rs 462 on 08 May, 2018 and 10 October, 2018, respectively.

Currently, it is trading 4.98 percent below its 52-week high and 88.59 percent above its 52-week low.

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