Buy Tata Consumer Products, target price Rs 880: Kotak Securities

Kotak Securities has buy call on Tata Consumer Products with a target price of Rs 880. The current market price of Tata Consumer Products is Rs 852.9.

Time period given by analyst is Intra Day when Tata Consumer Products Ltd. price can reach defined target.
Tata Consumer Products Ltd., incorporated in the year 1962, is a Large Cap company (having a market cap of Rs 78636.01 Crore) operating in FMCG sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3036.47 Crore, down -1.42 % from last quarter Total Income of Rs 3080.18 Crore and up 10.55 % from last year same quarter Total Income of Rs 2746.62 Crore. Company reported net profit after tax of Rs 240.65 Crore in latest quarter.

Investment Rationale
Breakout from the Bullish Flag pattern with rising volumes indicate upward momentum to sustain.

Promoter/FII Holdings
Promoters held 34.7 per cent stake in the company as of March 31, 2021, while FIIs held 25.8 per cent, DIIs 12 per cent and public and others 27.5 per cent.