Stock to buy: Everyone wants to bet on Tata group shares in the stock market. Tata Group shares have no break in terms of returns. If you want to bet on Tata Group’s stock in the stock market, then you can keep an eye on Tata Consumer’s stock. The stock of Tata Consumer can go beyond Rs 900. Experts are bullish on this stock and are advising to buy it.
Shares will go up to Rs 910
Domestic brokerage firm ICICI Securities has given its BUY rating on this stock. The target price of the stock has been kept at Rs 910. Presently the shares of the company are at Rs 763. That is, if you bet now, you can make a profit of about 20%. The company reported consolidated total income of Rs 3222.80 crore for the quarter ended March, which is 33% lower than the previous quarter total income of Rs 3233.42 crore. The company has reported a net profit after tax of Rs 289.24 crore in the latest quarter.
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what is the reason
The brokerage firm in its note wrote, India’s beverages witnessed a revenue decline of 4% for the quarter and a modest 2% volume growth mainly due to a much higher base. However, margins have improved due to lower tea prices. Gained 7% led by Tata Coffee Plantations and Vietnam business. Promoters held 34.72 per cent stake in the company as on 31-March-2022, while FIIs held 25.36 per cent, DIIs held 13.7 per cent.