Stock to buy: If you are planning to invest in Tata group shares then you can keep an eye on Tata Consumer Products Ltd shares. Actually, brokerage houses are bullish on the shares of this company in the FMCG sector and are advising to buy it. Domestic brokerage house ICICI Direct has given ‘BUY’ rating on this Tata Group stock.
Target price is Rs 910
ICICI Direct has given a buy rating on the Tata Consumer Products share price with a target price of Rs 910. The current share price of the company is Rs 816.20. That is, by betting now, a profit of 11.49% can be made. The stock has gained almost 10% in YTD this year. At the same time, the company has given strong returns to long-term investors. In the last five years, the stock has gained nearly 440%.
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What did the brokerage firm say?
ICICI Direct in its note said Tata Consumer Products is expected to post 4% revenue growth on the back of strong volume growth and fall in pricing. India’s Beverages and International Beverages segment is expected to register flat sales while the Indian food business (salt, pulses and others) is expected to register a 19% growth in sales. Average tea purchase prices in North India have seen a decline of 15% in FY12, which is expected to result in 437 bps gross margin expansion.
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What does the company do?
Let us tell you that Tata Consumer Products Limited is a company of FMCG sector. This is a company established in the year 1962. It is a large cap company with a market cap of Rs 75023.53 crore. For the quarter ended 31-12-2021, the company reported consolidated total income of Rs 3233.42 crore, a growth of 5.23% over the previous quarter total income of Rs 3072.74 crore. Company has reported Net Profit after Tax of Rs 287.68 Crore in latest quarter.