3 Tata Group Stocks To Buy, TP Rs 170- Rs 4600 As Recommended By 3 Brokerages

Three brokerage houses Bonanza Portfolio, Yes Securities, and Mehta Equities have recommended buy call to 3 Tata Group stocks. These stocks are Tata Consumer Products Ltd, TCS, and Tata Steel Ltd. If you buy these stocks now you can fetch maximum potential upside of 13.64%. Check details below:

1. Buy Tata Consumer Products Ltd Shares: Mehta Equities has assigned buy rating to Tata Consumer Products share with target price of Rs 1300 apiece. Last trading price of Tata Consumer Products stock on BSE is Rs 1186.60 apiece with intraday decline of 2.24%. The analyst has asked to keep the stop loss at Rs 1175 per share. If you buy Tata Consumer Products shares now, you can fetch potential gain of 9.56%.

Tata Consumer Products witnessed a substantial breakout above its anchor VWAP resistance mark of 1207.50. Largely, downside risk appears very limited. Tata Consumer Products appears set for a substantial upside move towards 1300 and beyond. A robust technical structure with a prominent volume pickup in Friday's session is a strong indicator for Tata Consumer Products, said Mehta Equities. Tata Consumer Products shares witnessed spurt in volume on March 11, 13, and 14 in the range of 1.16 and 1.34 times.

The 52-week high price of Tata Consumer Products shares on BSE is Rs 1269.60 apiece and 52-week low price is Rs 690.00 apiece, respectively. The PE is 104.24 and ROE is 8.65.

2. Buy TCS Shares: Last trading price of Tata Consultancy Services Ltd shares on BSE is Rs 4144.75 apiece with intraday fall of 1.72%. Yes Securities has assigned buy call to TCS shares with target price of Rs 4600 apiece. If you buy Tata Consultancy Services shares with current market price of Rs 4144.75 apiece, you can get likely return of 10.98%. According to the brokerage firm, Relative strength studies of TCS indicating a base building pattern, holding on to polarity zone point. Breakthrough after this pattern might lead to O/P of TCS. On standalone chart, TCS confirmed a bullish turtle break post bullish anchor column, indicating a rally towards Rs 4,600.

The 52-week high price of TCS stock on BSE is Rs 4254.45 apiece and 52-week low price is Rs 3070.30 apiece, respectively. Tata Consultancy Services shares soared 15% in last 6-months and rallied 30% in last 1-year. In last 2-years, Tata Consultancy Services stock zoomed 105%.

According to reports, Tata Sons is planning to sell 2.3 crore shares in TCS via block deals. The total number of shares on offer is 0.64% of TCS total outstanding equity. Reports state that the offer price for the block deal is Rs 4,001 apiece, that is a 3.45% discount as against the Monday's closing price Rs 4144.75 apiece for Tata Consultancy Services.

3. Buy Tata Steel Shares: Bonanza Portfolio recommended buy call to Tata Steel shares with target price of Rs 170 apiece and asked to keep the stop loss at Rs 139 apiece. Last trading price of Tata Steel share on BSE is Rs 149.60 per share with intraday gain of 5.69%. If you buy Tata Steel shares at the last trading price of Rs 149.60 per share, you can gain potential rally of 13.64%.

According to the brokerage, the stock re-claimed strength after a regression, creating a bullish candle closing above 2 days close. Surge in volume in Monday's trading session highlights buyers' curiosity in the security. The price ended over exponential moving average of 50, reflecting a rising trend in the security. After cooling off, the RSI has begun moving to the north in support of price action, added the analyst.

The 52-week high price of Tata Steel stock on BSE is Rs 159.50 apiece and 52-week low price is Rs 101.65 apiece, respectively. Tata Steel shares soared 40% in last 1-year and gained 112% in last 3-years.

Tata Steel said, "Tata Steel UK has decided to cease operations of the Coke Ovens at the Port Talbot plant, in Wales, following a deterioration of operational stability. Tata Steel UK will increase imports of coke to offset the impact of the coke oven closures." Tata Steel had previously stated that many of its heavy-end assets in Port Talbot are at their end-of-life capability. Tata Steel is currently at an advanced stage of consultations with trade unions in the UK on its proposal for the planned restructuring involving closure of the iron and steelmaking assets at Port Talbot, and subsequent transition to sustainable low-CO2 steelmaking involving a £1.25 billion investment in Electric Arc Furnace technology in Port Talbot and asset upgrades, added the regulatory filing.

Disclaimer: The stocks have been picked from the brokerage report of Bonanza Portfolio, Yes Securities, and Mehta Equities. 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.