On the latest trading day, the stock market showed signs of recovery, and this positive trend extended to the companies within the Tata Group as well.
Tata Consumer Products witnessed a surge, with its shares climbing over 1% to reach Rs 790 during trading.
Brokerages are now displaying enthusiasm for this stock, projecting it to cross Rs 900. It is worth noting that just 21 years ago, in 2022, the share price of Tata Consumer Products was a mere Rs 15.
Brokerages’ Insights: Domestic brokerage firm Motilal Oswal predicts that the share price of Tata Consumer Products could potentially reach Rs 910.
The stock’s 52-week high stands at Rs 861, which was achieved in September 2022. On March 16, 2023.
the stock reached its lowest level in the past 52 weeks, touching Rs 685. Over the span of 10 years.
the stock has provided investors with impressive multibagger returns of 456% on the Bombay Stock Exchange (BSE).
The returns for the 5 and 3-year periods have also remained in triple digits, while the returns for investors over a 2 or 1-year period have been more modest.
March Quarter Results: In the fourth quarter of the previous financial year (2022-23), Tata Consumer Products experienced a 21.12% increase in net profit, amounting to Rs 289.56 crore.
Comparatively, the company had earned a profit of Rs 239.05 crore in the same quarter of the previous fiscal year (2021-22).
The company’s operating income also displayed growth, rising by 13.96% to Rs 3,618.73 crore in the corresponding period, as compared to Rs 3,175.41 crore in the previous fiscal.
