ICICI Directs Bets On Tata Chemicals, Stock Likely To Jump 19%: 3 Months Return 37%

Leading brokerage ICICI Direct has given buy rating to Tata Chemicals Ltd with a target price of Rs 1370 and a potential return of 18.72% in a target time period of 1 year. If investors buy Tata Chemicals now, it will potentially surge to Rs 1370.

1. Tata Chemicals Stock Outlook

The current market price of Tata Chemicals Ltd is Rs 1154 apiece with an intraday decline of 0.90% till afternoon trading today. The 52-week high is Rs 1214 apiece and 52-week low is Rs 773 apiece, respectively. The stock is currently trading at a discount of 5% from its 52-week high level.

2. Tata Chemicals Market Capitalisation

The company has a market capitalisation of Rs 29,417.98 crore as of writing the report.

3. Tata Chemicals 5-Years Return

The stock has fetched 65% return in the last 5 years, 94% return in the last 3 years, and 18% return in last 1 year. The stock has surged 37% in just 3 months.

4. Tata Chemicals Latest Quarterly Results

The mid cap stock has announced a consolidated total income of Rs 4,041.00 crore, up 12% from last quarter total income of Rs 3586 crore. The company declared a net profit at 608 crore in the latest quarter.

5. ICICI Direct Opinion On Tata Chemicals Ltd

According to ICICI Direct, "The revenue is expected to grow 36.7% YoY to Rs 4133 crore. OPM can likely remain at 22.9% (637 bps YoY) resulting in EBITDA growth of 89.3% YoY to Rs 948 crore. PAT is expected to remain at Rs 483 crore (up 130.8% YoY). Key Monitorable: Growth in the basic chemical across key geographies along with EBITDA/tonne."

6. Tata Chemicals About

Tata Chemicals currently is the world's third largest producer of soda ash with manufacturing facilities in India, United Kingdom, Kenya and the United States. It si also the sixth largest producer of sodium bicarbonate. The history of Tata Chemicals can be traced to the Okhamandal Salt Works set up in 1927. It became a part of the Tata Group in 1939 when then Chairman JRD Tata took it over.

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. 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.