Sell Tata Chemicals, target price Rs 555: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities Limited has a sell call on Tata Chemicals with a target price of Rs 555. The current market price of Tata Chemicals is Rs 584.35. Shrikant Chouhan recommended to keep a stop loss at Rs 591.

Tata Chemicals key products/revenue segments include soda ash which contributed Rs 1,415.48 crore to sales value (40.16 per cent of total sales), vacuum salt which contributed Rs 1,275.47 crore to sales value (36.19 per cent of total sales) and others which contributed Rs 833.22 crore to sales value (23.64 per cent of total sales) for the year ending 31 March, 2018.

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 2,896.94 crore, up 4.98 per cent from last quarter sales of Rs 2,759.39 crore and up 5.56 per cent from last year same quarter sales of Rs 2,744.41 crore. The company has reported a net profit after tax of Rs 315.28 crore in latest quarter. The company’s top management includes C V Natraj, Bhaskar Bhat, R Mukundan, Ratan N Tata, S Padmanabhan, Zarir Langrana, Padmini Khare Kaicker and Vibha Paul Rishi. The company has B S R & Co. LLP as its auditor. As on 30-06-2019, the company has a total of 254,756,278 shares outstanding.