Godrej Consumer Products gains 4% as Morgan Stanley maintains 'overweight'

Godrej Consumer Products surged 4.13 per cent to Rs 673.2 on the BSE on Wednesday after reports said global financial services firm Morgan Stanley has maintained its 'overweight' stance on the counter. The target price is set at Rs 845 apiece, which is 30.7 per cent higher from the last closing price.

Analysts at Morgan Stanley "believe that the share price of the stock will rise relative to the index" and may report acceleration in domestic volume growth".

Besides, the brokerage expects a likely expansion in the company's operating margin of its international business.

At 10:24 AM, the stock was