Tata Chemicals share price: Buy Tata Chemicals, target price Rs 335: IIFL

IIFL has given a buy rating to Tata Chemicals with a target price of Rs 335. The share price moved up by 0.91 per cent from its previous close of Rs 317.90. The stock’s last traded price is Rs 320.80.

Tata Chemicals Ltd., incorporated in the year 1939, is a Mid Cap company (having a market cap of Rs 8181.50 Crore) operating in Chemicals sector.

For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 2348.16 Crore, down 1.26 % from last quarter Sales of Rs 2378.09 Crore and down 18.94 % from last year same quarter Sales of Rs 2896.94 Crore. The Company reported net profit after tax of Rs 74.86 Crore in latest quarter.

Investment Rationale
Stock has given a bullish Inverse Head & Shoulder breakout on the daily chart.

Promoter/FII Holdings
Promoters held 31.08 per cent stake in the company as of third quarter ending December 31, 2019, while FIIs held 9,80 per cent, DIIs 38 per cent and public & others 20.77 per cent.

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