1:10 Stock Split, Rs 8.45/Share Dividend: Buy Tata FMCG Stock, TP Rs 1220; Q4 Dividend Soon

Brokerage firm Sumeet Bagadia of Choice Broking has recommended buy call to Tata Consumer Products share with target price of Rs 1220 apiece and keep the stop loss at Rs 1107 apiece. Current market price of Tata Consumer Products shares on BSE is Rs 1146.60 per share. The FMCG giant will be considering financial results and dividend, if any in its upcoming meeting of Board scheduled to be held on April 23, 2024.

Tata Consumer Products shares gave maximum return of 645% in last 10-years and 433% in last 5-years. It is worth noting that Life Insurance Corporation of India (LIC) has 8.04% stake in Tata Consumer with 76,605,809 shares.

Tata Consumer Products Ltd To Consider Dividend, Results: The Board of Tata Consumer Products Ltd will meet on April 23 to recommend final dividend, if any. As per the BSE filing of the company, "a meeting of the Board of Directors of the Company has been scheduled on Tuesday, April 23, 2024, inter alia to consider the following matters, among others:
1. Approval of the audited standalone and consolidated financial results of the Company for the quarter and financial year ending on March 31, 2024, and to take on record the Reports of the Auditors thereon.
2. Recommendation of final dividend, if any, on the Company's equity shares for the financial year ending on March 31, 2024, for the approval of the shareholders at the ensuing 61st Annual General Meeting of the Company."

Sumeet Bagadia Recommends Buy Call: Sumeet Bagadia, Executive Director at Choice Broking has recommended buy call to Tata Consumer Products share with target price of Rs 1220 and keep stop loss at Rs 1107. According to Sumeet Bagadia, Executive Director at Choice Broking, "Tata Consumer Products Limited (TATACONSUM) is currently exhibiting positive technical signals in its trading pattern. The stock is trading at Rs 1145 levels where the stock has crossed Rs 1135 which was its 20 and 50 Day EMA levels. Its robust support base lies near Rs 1107 levels."

Tata Consumer Products Dividend History: The FMCG sector company declared 24 dividends since August 17, 2001. In last 12 months, Tata Consumer Products announced an equity dividend amounting to Rs 8.45 per share. At the current share price of Rs 1149.4500, Tata Consumer Products offers a dividend yield of 0.74%.

Tata Consumer Products Share Performance & Return: Current market price of Tata Consumer Products Ltd share on BSE is Rs 1146.60 apiece. Tata Consumer Products shares offered return of 3% in last 1-week, declined 5% in last 1-month, zoomed 29% in last 6-months, and gave return of 60% in last 1-year. Tata Consumer Products stock surged 75% in last 3-years and rallied 433% in last 5-years.

Tata Consumer Products Stock Split History: Tata Consumer Products Ltd split the face value of its shares once since June 30, 2010. Tata Consumer Products last split the face value of its shares from Rs 10 to Re 1 in 2010. Tata Consumer Products shares traded ex-split from June 30, 2010.

Tata Consumer Products Technical: Score is 57.54 indicating the stock is technically neutral. Stocks with score above 70 are considered as technically Strong and below 35 are considered weak. RSI is 51.9, RSI below 30 is considered oversold and above 70 overbought. MFI is 61.8, MFI below 30 is considered oversold and above 70 overbought, according to Trendlyne. Number of FII/FPI investors increased from 968 to 986 in Mar 2024 quarter. Mutual Funds have increased holdings from 6.36% to 6.58% in Mar 2024 quarter.

Disclaimer: The stock has been picked from the brokerage report of Sumeet Bagadia of Choice Broking. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.