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3 Tata Group Stocks Witness Sharp Fall Today, Brokerages See Potential Return Up To 59%
Three Tata group stocks witness decline in trade on Monday, October 10, 2022. These stocks are Tata Motors Ltd, Tata Consumer Products Ltd, and Titan Company Ltd. BSE Sensex fell 650 points or 1.12% at 57,541 points in morning trade amid decline in global equities and rise in crude oil prices. Nifty 50 shed 200 points or 1.12% at 17,120 in early trade. Meanwhile, Rupee fell 39 paise to 82.72, a new low against the US Dollar in the early trade on Monday.
| Company | Potential Return |
|---|---|
| Tata Motors Ltd | 59% |
| Tata Consumer Products Ltd | 16% |
| Titan Company Ltd | 10.9% |
Check key takeaways below:
1. Tata Motors Ltd
The current market price of Tata Motors Ltd is Rs 396 apiece. The stock fell 3.83% till afternoon trade. Its 52-week high is Rs 536 apiece and 52-week low is Rs 366 apiece, respectively. The stock is currently trading at a discount of 26% from 52-week high range. The company has a market capitalization of Rs 1,31,717.81 crore.
Brokerage Call: Recently, KR Choksey in its 1 week back "Auto Sales Update September 2022" report has given buy rating to Tata Motors Ltd with a target price of Rs 630 apiece. If investors buy the large cap stock at its current market price of Rs 396, they will receive a potential return of 59%.
The stock has given a negative return of 6% in last 5 years, positive return of 239% in last 3 years, and 4% in last 1 year. According to KR Choksey, "Tata Motors continues to benefit from the recovery in the domestic CV industry due to improving economic activity, improving fleet utilization, and pick-up in infrastructure development. CV exports are under pressure due to economic issues in Sri Lanka and Nepal. Tata Motors' PV sales are on a strong trajectory due to new launches by the company and a higher share of SUVs in the portfolio.
About The Company: Tata Motors Limited, a USD 37 billion organisation, is a leading global automobile manufacturer with a portfolio that covers a wide range of cars, SUVs, buses, trucks, pickups and defence vehicles, according to its official website. Tata Motors is one of India's largest OEMs offering an extensive range of integrated, smart and e-mobility solutions.
2. Tata Consumer Products Ltd
The stock witnessed a decline of 2.65% intraday. The current market price of the stock is Rs 760 apiece with 52-week high at Rs 862 apiece and 52-week low at Rs 650 apiece, respectively. The company has a market capitalisation of Rs 70,037.93 crore. The stock is currently trading at a discount of 11.83% from 52-week high. The large cap stock operates in FMCG sector. It has given return of 264% in last 5 years and 185% in last 3 years. It has fallen 7% in last 1 year.
Brokerage call: Leading brokerage Prabhudas Lilladher in its 3-week back report assigned buy rating to Tata Consumer Products Ltd with a target price of Rs 880 apiece with a potential return of 16%. It is a company with strong financials. It is a company with strong financials. Tata Consumer Products has achieved high TTM EPS growth.
It is also efficiently using its capital to generate profit with RoCE improving in the last 2 years. When it comes to weaknesses, MFs have brought down their shareholding last quarter. It is also falling in the list of companies with growing costs YoY for long term projects.
About the company: Tata Consumer Products is a focused consumer products company uniting the food and beverage interests of the Tata group under one umbrella. It is home to key brands such as Tata Tea, Tetley, Tata Salt and Tata Sampann. With a combined reach of over 201 million households in India, it has an unparalleled ability to leverage the Tata brand in consumer products.
3. Titan Company Ltd
The current market price of the stock is Rs 2678 apiece with an intraday decline of 1.90% till afternoon trade. The 52-week high is Rs 2767 apiece and 52-week low is Rs 1827 apiece, respectively. The stock is currently trading at a discount of 3% from 52-week high. The large cap company has a market capitalization of Rs 2,37,797.96 crore. The stock has given multibagger returns to investors with 5-years return at 339%, 3-years return at 119%, and 1-year return at 15%. Titan reported solid Q2FY23 business growth with overall sales grew by 18% YoY.
Brokerage call: Ashika Research has assigned buy rating to Titan Company Ltd with a target price of Rs 2970 apiece and a potential return of 10.9%.
According to Ashika Research, "the stock has rebounded sharply in the past 2.5 month and is presently at the verge of giving a breakout from the previous swing high of Mar'22. On the oscillator front, the stock is presently trading in neutral price reading in weekly time frame indicating room for further upside. Volume in the stock has also surpassed the 30-day average indicating of large participation in the direction of trend. Hence one can expect the stock to head further higher from here with initial target of 2990 as it happens to be the projected 123.6% extended retracement of the entire decline since Mar'22 (2768-1825)."
About the company: Titan Company Limited (Titan), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), commenced its operations in 1984 under the name Titan Watches Limited. Titan is the fifth largest integrated own brand watch manufacturer in the world.
Disclaimer
The stocks have been picked from the brokerage reports of KR Choksey, Prabhudas Lilladher, and Ashika Research. 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.
