Buy Tata Chemicals, target price Rs 966: IIFL

IIFL has buy call on Tata Chemicals with a target price of Rs 966. The current market price of Tata Chemicals Ltd. is Rs 937.15.

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 23701.25 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 30-06-2021, the company reported a Consolidated Total Income of Rs 3031.53 Crore, up 12.25 % from last quarter Total Income of Rs 2700.72 Crore and up 25.96 % from last year same quarter Total Income of Rs 2406.82 Crore. Company reported net profit after tax of Rs 291.60 Crore in latest quarter.

Investment Rationale
Stock has given a flag pattern breakout on the hourly chart.

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.