Godrej Properties Limited (GPL) saw its shares rise 3% after BofA upgraded its rating from “Neutral” to “Buy.” The brokerage also raised the target price to ₹3,600 from ₹3,500, citing robust growth potential in collections and operating cash flow (OCF).
BofA highlighted that the risk-reward ratio has turned favorable following a recent correction in the stock. With the residential real estate cycle remaining strong, the firm forecasts a compound annual growth rate (CAGR) of over 20% in bookings, with potential for upside.
As of 12:30 pm, Godrej Properties shares were trading 3.38% higher at Rs 2,796.25 on the NSE.
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