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.
Stocks in focus today: Market to remain range bound with positive bias driven by results from index heavyweights. Bajaj Auto, Tata Consumer Products, Bajaj Finance, and Maruti Suzuki are among the stocks to watch on Wednesday, Apri 26, 2023.
State Bank of India has closed in an inside range of the previous month's candle with positive divergence and a doji candle indicating a breakout on the higher side.
Shares of Tata Consumer Products rose 3.08 per cent to hit a high of Rs 794.55 on BSE. Within the first few minutes of trade, a total of 98,000 shares changed hands on the counter compared with a two-week average of 53,000 shares