Godrej Consumer Products: On a buying spree

GCPL has acquired Indonesian consumer group Megasari and Nigerian firm Tura. These acquisitions have strengthened GCPL's presence in the home care segment into of the largest and fastest growing emerging markets. Also the company is eyeing for more acquisition in Africa & Latin America and is planning to buy remaining share of Sara Lee group. At the CMP of Rs309, the stock is trading at 48.5 times its FY09 EPS of 6.37. Investors are recommended to hold the stock for a 12-month price target of Rs345

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