Buy Tata Chemicals, target price Rs 381: Motilal Oswal

Motilal Oswal has given a buy rating to Tata Chemicals with a target price of Rs 381. The share price moved up by 3.86 per cent from its previous close of Rs 358.35. The stock’s last traded price is Rs 373.30.

Tata Chemicals Ltd., incorporated in the year 1939, is a Mid Cap company (having a market cap of Rs 9383.95 Crore) operating in Chemicals sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2609.35 Crore, up 11.12 % from last quarter Sales of Rs 2348.16 Crore and down -15.38 % from last year same quarter Sales of Rs 3083.50 Crore Company reported net profit after tax of Rs 121.67 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 35.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 9.1 per cent, DIIs 29.2 per cent and public and others 26.3 per cent.