Technically, the stock s day RSI (14) is at 64.6. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at -0.6, which is above its center and signal line, this is a bullish indicator.
The Q1 earnings season has been a mixed bag, select stocks from different sectors have seen an improvement in their analyst scores. However because valuations are at elevated levels, it is important to be selective before being bullish when looking at stocks. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Tata Consumer Products shares rose 3% to Rs 866.2 on Monday, following Citi s initiation of a "Buy" call on the stock with a target price of Rs 1,020. The global investment bank anticipates a consolidated revenue/EBITDA/EPS CAGR of 12%/17%/22% over FY23-26 due to the companys improved financial metrics and brand strength. In Q4 FY23, the firm reported a net profit of Rs 268 crore, a 23% increase from last year. Its revenue from operations for Q4 also grew 14% YoY to Rs 3,619 crore.