Buy Tata Chemicals Ltd. target Rs 630: Vikas Jain

Vikas Jain of Reliance Securities has a buy call on Tata Chemicals Ltd. with a target price of Rs 630. The current market price of Tata Chemicals Ltd. is Rs 583.3 Time period given by analyst is Intra Day when Tata Chemicals Ltd. price can reach defined target. Vikas Jain recommended to keep stoploss at Rs 540. Tata Chemicals Ltd., incorporated in 1939, has a market cap of Rs 14522.38 crore.

Investment Rationale

The stock has made a strong doji on its monthly charts and crossover of the short term averages on daily charts confirms a positive reversal.


The key technical indicators are trading above the average line and reversed from lower levels confirm the uptrend.

In case of any decline, its multi month long term averages will act as strong support on the downside.

Long position can be initiated for a target of Rs 573 with a stop loss of Rs 540.

Company Financials

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 2896.94 crore, up 4.98 % from last quarter sales of Rs 2759.39 crore and up 4.62 % from last year same quarter sales of Rs 2769.12 crore. The company has reported net profit after tax of Rs 315.28 Crore in latest quarter.