Buy Tata Chemicals, target price Rs 1005: IIFL

IIFL has buy call on Tata Chemicals with a target price of Rs 1005. The current market price of Tata Chemicals Ltd. is Rs 972.9. Time period given by analyst is Intra Day when Tata Chemicals Ltd. price can reach defined target.

Tata Chemicals Ltd., incorporated in the year 1939, is a Mid Cap company (having a market cap of Rs 24648.94 Crore) operating in Chemicals sector.

Tata Chemicals Ltd. key Products/Revenue Segments include Salt, Others, Refined Sodium Bicarbonate and Specialty Chemicals for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 3079.00 Crore, up 1.57 % from last quarter Total Income of Rs 3031.53 Crore and up 14.98 % from last year same quarter Total Income of Rs 2677.90 Crore. Company reported net profit after tax of Rs 210.62 Crore in latest quarter.

Investment Rationale
Stock has given a symmetrical triangle breakout

Promoter/FII Holdings
Promoters held 37.98 per cent stake in the company as of 30-Sep-2021, while FIIs owned 14.45 per cent, DIIs 20.02 per cent.