Buy Tata Consumer Products, target price Rs 895: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities has buy call on Tata Consumer Products with a target price of Rs 895. The current market price of Tata Consumer Products is Rs 874.6. Shrikant Chouhan recommended to keep stop loss at Rs 858.

Tata Consumer Products, incorporated in the year 1962, is a Large Cap company (having a market cap of Rs 81237.42 Crore) operating in FMCG sector.

Tata Consumer Products key Products/Revenue Segments include Tea, Other Operating Revenue, Royalty Income for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 3798.96 Crore, up 3.40 % from last quarter Total Income of Rs 3674.03 Crore and up 12.99 % from last year same quarter Total Income of Rs 3362.17 Crore. Company has reported net profit after tax of Rs 358.57 Crore in latest quarter.

Investment Rationale
Counter is trading near important retracement zone, which suggests a reversal and uptrend to resume.

Promoter/FII Holdings
Promoters held 34.45 per cent stake in the company as of 30-Jun-2023, while FIIs owned 25.39 per cent, DIIs 16.25 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

READ SOURCE