Buy Tata Consumer Products, target price Rs 770: Yes Securities

Yes Securities has buy call on Tata Consumer Products with a target price of Rs 770. The current market price of Tata Consumer Products Ltd. is Rs 717. Time period given by analyst is Intra Day when Tata Consumer Products Ltd. price can reach defined target.

Tata Consumer Products Ltd., incorporated in the year 1962, is a Large Cap company (having a market cap of Rs 66024.57 Crore) operating in FMCG sector.

Tata Consumer Products Ltd. key Products/Revenue Segments include Tea, Other Operating Revenue, Royalty Income, Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3233.42 Crore, up 5.23 % from last quarter Total Income of Rs 3072.74 Crore and up 4.67 % from last year same quarter Total Income of Rs 3089.05 Crore. Company reported net profit after tax of Rs 287.68 Crore in latest quarter.

Investment Rationale
Post-multi-month decline, recent swift recovery ensures immediate support near 680-690. Sustenance at current levels is likely to unlock upside potential till 770.

Promoter/FII Holdings
Promoters held 34.72 per cent stake in the company as of 31-Dec-2021, while FIIs owned 25.67 per cent, DIIs 13.4 per cent.