Tata Group Stock Hit 52-Week Low After Q2 Loss, Should You Buy?

Tata group stocks are some of the most preferred stocks by investors due to their sharp returns. Voltas is a six-decade-old company in India with expertise in Air Conditioning & Cooling technology. Voltas, the Tata group stock, hit a 52-week low on the last trading day, after it recorded a sharp fall in its quarterly earnings, both on a sequential and yearly basis. The current market price of the company stood at Rs. 808/share on NSE, down by 2%. Additionally, the stock became multibagger in the last 6 months.

The company's revenue from operations in Q2 FY23 fell to Rs. 1768.36 crore, down from Rs. 2766 crore in the last quarter. Additionally, its total income in Q2 FY23 stood at Rs. 1832.74 crore, down from Rs. 2794.75 crore in the earlier quarter, the company informed.

Brokerage firm Nomura has given a buy rating to the stock, with an Rs. 1083 target price.

In the last 1 month, the share of the stock fell by 7.04%. Its stock price gained by 17.14% in the last 6 months, and in the last 1 year this multibagger stock has fallen by 31.84%. It is a large-cap stock with a market capitalization of Rs. 26,800 crore.

The 52-week high level of this stock is Rs. 1,347.65, and the 52-week low level of this stock is Rs. 806.95.

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