1:10 Split: Tata Group FMCG Giant Likely To Rally, Buy Recommended For TP Rs 1350

Large cap Tata Group company from the FMCG sector, Tata Consumer Products Ltd (TCPL) shares fell 4.48% in last 1-week and 10.40% in last 3-months. Brokerage firm Mehta Equities appear bullish on Tata Consumer Products Ltd shares and recommended buy call with target price of Rs 1300 per share. According to the brokerage firm, TCPL share has provided a robust breakout above its trendline resistance mark of Rs 1,115 and successfully closed above the same. Traders must maintain stop loss at Rs 1050 per share.

Previously, brokerage firm Motilal Oswal too recommended buy call to Tata Consumer Products Ltd shar with target price of Rs 1350 per share. Earlier this month, Tata Consumer Products share traded ex-dividend for Rs 7.75 per share of Re 1 each.

It is worth mentioning that LIC has an attractive 8.04% stake in TCPL with 76,605,809 shares of the company. FII/FPI have reduced holdings from 25.62% to 25.46% in March 2024 quarter. Number of FII/FPI investors surged from 968 to 986 in March 2024 quarter. Mutual Funds have increased holdings from 6.36% to 6.58% in March 2024 quarter.

Tata Consumer Products Shares Hit Ex-Dividend On May 24: As per the regulatory filing of Tata Consumer Products dated May 13, "Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, May 24, 2024, as the Record Date for determining entitlement of Members to receive the dividend for the financial year ended March 31, 2024, if declared at the 61st AGM. The payment of such dividend shall be subject to deduction of tax at source, as applicable and will be made on and from Monday, June 17, 2024."

Tata Consumer Products Ltd Stock Split History: TCPL split the face value of its shares once since June 30, 2010. It last split the face value of its shares from Rs 10 to Re 1 in 2010.The share traded ex-split as on June 30, 2010.

Motilal Oswal On Tata Consumer: According to Motilal Oswal, "Tata Consumer Products (TATACONS) reported a strong operating performance in 4QFY24. EBIT growth of 20% YoY was led by a healthy performance in the international branded beverage segment (EBIT up 29% YoY), and non-branded business (up 3.6x YoY). However, the EBIT of the India branded business grew by only 3% YoY." We broadly maintain our FY25/FY26 EPS estimates. Reiterate BUY with an SoTP-based TP of INR1,350, stated the analyst.

Tata Consumer Products Shares Performance & Return: The 52-week high price of Tata Consumer Products shares on BSE is Rs 1269.60 per share (as on 07/03/2024) and 52-week low price is Rs 783.65 per share (as on 06/06/2023), respectively. Its market capitalisation stood at Rs 1,01,710.35 crore. Tata Consumer Products shares slipped over 1% year-to-date, soared 35% in last 1-year, gained 42% in last 2-years, and offered 350% return in last 5-years. In last 10-years, Tata Consumer Products share zoomed 351%.

Tata Consumer Products About: Tata Consumer Products is a focused consumer products company uniting the food and beverage interests of the Tata group under one umbrella. It is home to key brands such as Tata Tea, Tetley, Tata Salt and Tata Sampann. With a combined reach of over 201 million households in India, it has an unparalleled ability to leverage the Tata brand in consumer products.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal and Mehtas Equities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.