Buy Tata Chemicals, target price Rs 982: ICICI Direct

ICICI Direct has buy call on Tata Chemicals with a target price of Rs 982. The current market price of Tata Chemicals is Rs 945. 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 24050.27 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-2022.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 3586.91 Crore, up 12.77 % from last quarter Total Income of Rs 3180.66 Crore and up 32.81 % from last year same quarter Total Income of Rs 2700.72 Crore. Company reported net profit after tax of Rs 421.41 Crore in latest quarter.

Investment Rationale
Buying demand emerging from trend line support joining lows since Sept 2021 and RSI in buy mode.

Promoter/FII Holdings
Promoters held 37.98 per cent stake in the company as of 31-Mar-2022, while FIIs owned 13.62 per cent, DIIs 19.9 per cent.