2 Tata Stocks Likely To Rally, Buy For TP Rs 188- Rs 1290 For 60-Days: HDFC Securities

Leading brokerage firm HDFC Securities has picked 2 Tata Group Stocks and recommended investors to buy them for a period of up to 2 months. These two stocks are Tata Chemicals and Tata Steel. Tata Steel will hold its meeting of Board of Directors on November 6, 2024 to consider financial results of the company for the quarter ended September 30, 2024. If you these stocks now, you can get maximum return of up to 26.47%.

Buy Tata Steel Shares

HDFC Securities has suggested traders to buy Tata Steel Ltd shares with price target of Rs 188 per share and keep the stop loss at Rs 150 per share. The analyst has picked Tata Steel stock for a target time of 2 months. Last trading price of the scrip on BSE is quoting at Rs 148.65 per share. If you buy the metal stock now, you can fetch potential return of 26.47%. The 52-week high price of Tata Steel shares on BSE stood at Rs 184.60 per share and 52-week low price is Rs 114.25 per share. Its market cap is Rs 1,85,566.38 crore.

Tata Steel declared its highest ever dividend of Rs 51 per share in 2022 and lowest ever dividend of Rs 3.60/share in 2023 and 2024. Life insurance corporation of india (LIC) stake in Tata Steel stood at 7.63% with 952,531,650 shares of the company. Tata steel declared 30 dividends since May 24, 2021 and offers a dividend yield of 2.42%. Tata Steel shares slipped over 11% in last 1-month and gained 25% in last 1-year. The stock offered maximum returns in last 5-years as the stock surged 290% during this time period.

FII/FPI have reduced holdings from 19.68% to 19.25% in September 2024 quarter and mutual funds have increased holdings from 10.32% to 10.62% in September 2024 quarter. LIC stake stood at 7.63% for September 2024 quarter which jumped maginally from March 2024 quarter (7.61%).

Buy Tata Chemicals Shares

The analyst has also picked Tata Chemicals stock for a target time of 2 months and assigned a target price of Rs 1290 per share with stop loss to be kept at Rs 1045 per share. Last trading price of Tata Chemicals shares on BSE stood at Rs 1148.70 per share. Tata Chemicals shares have been witnessing upward rally for last 2-weeks as the scrip delivered returns of 6.99%. In last 1-year, Tata Chemicals stock rose more than 19%.
The company's market cap stood at Rs 29,263.85 crore. The 52-week high price of commodity chemicals industry stock is Rs 1349.70 per share and 52-week low price is Rs 933.00 apiece.

Tata Chemicals declared 28 dividends since June 14, 2001. In last 1-year, Tata Chemicals declared an equity dividend amounting to Rs 15.00 per share. At the current share price of Rs 1148.70 per share, Tata Chemicals has a dividend yield of 1.31%. FII/FPI have decreased holdings from 13.76% to 13.56% in September 2024 quarter and mutual funds increased holdings from 7.31% to 8.06% in September 2024 quarter. Earlier on October 17, Tata Chemicals declared a fall of 54.67% in its consolidated net profit for the quarter ended September 2024 at Rs 194 crore from Rs 428 crore declared in the corresponding quarter of last year.

Disclaimer: The stocks have been picked from the brokerage reports of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage Houses 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.