India's Godrej Agrovet rises as Axis Capital raises price target
BUZZ-India's Godrej Agrovet rises as Axis Capital raises price target ** Agribusiness firm Godrej Agrovet's shares GODE.NS rise about 2% to 645 rupees apiece
** Rise after Axis Capital reiterates "add" and hikes price target to 710 rupees from 645 rupees, implying a potential upside of 12%
** GODE's crop care business faces pressure in the financial year 2027 from El Niño, uneven rainfall, low reservoir levels and high channel inventory, says Axis Capital
** Adds, ramp-up of its new in-licensed molecules for maize, paddy and chilli partly offsets the impact
** Adds GODE's palm oil business is expected to continue its healthy performance in FY2027
** While the brokerage cuts GODE's FY2027 EBITDA by 11% to factor in the weakness in the crop care segment margin, it keeps FY2028-2029 EBITDA intact
** GODE shares are up 13% in 2026 so far, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
Recent news on Godrej Agrovet
See all newsIndia's Godrej Agrovet rises as Axis Capital raises price target
Weak monsoon curbs farm-input demand in India, Rallis India CEO says
India's Godrej Agrovet oil palm unit could be worth more than its market cap, Kotak says
Brief: Godrej Agrovet Q1 Consol Net Profit 1.35 Billion Rupees
Brief: Godrej Agrovet Inaugurates India's First Integrated Oil Palm Complex In Telangana