Renowned analysts have recommended investors to buy 3 large cap Tata Group stocks that can offer higher return. These Tata Group stocks are Tata Motors, Tata Steel, and Titan Company Ltd. These stocks are available in the range of Rs 164 and Rs 4112. Below are more details about these large caps that can offer attractive returns:
Buy Tata Steel Shares: Current market price of Tata Steel share on BSE is Rs 152.85 per share with intraday gain of 0.36%. Leading analyst Ruchit Jain from 5paisa has given buy rating to Tata Steel shares with price target of Rs 164 per share and keep stop loss at below Rs 138 per share. Meanwhile, global brokerage firm Macquarie has assigned outperform rating to Tata Steel shares with target price of Rs 162 per share.
According to Ruchit Jain, Tata steel has been forming a ‘Higher Top Higher Bottom’ structure and is therefore in an uptrend. Latest price-up move was supported by attractive volumes, while the volumes on corrections appear low, which is a positive sign. Tata Steel bounced from its 89 DEMA support and is hinting at buying interest on corrections. Positional traders can buy Tata Steel shares in the range of Rs 147-142 for potential targets of Rs 156 and Rs 164. The stop loss on long positions should be placed below Rs 138.
The 52-week high price of Tata Steel share BSE is Rs 159.50 per share and 52-week low price is Rs 101.65 per share, respectively. The market capitalisation stands at Rs 1,90,809.42 crore. Tata Steel shares offered return of 4.91% in last 1-week, more than 19% in last 6-months, and gained over 49% in last 1-year. Tata Steel Ltd shares soared a little over 99% in last 3-years. In last 5-years, the steel giant shares soared 196%.
Meanwhile, in the latest development, Tata Steel issued a BSE filing today stating, “This has reference to our letter dated March 19, 2024, intimating that the Committee of Directors (‘COD’) of the Board had approved the issue of fixed rate, unsecured, redeemable, rated, listed NCDs aggregating to ₹2,700 crore, on private placement basis. In this connection, we wish to inform you that the coupon rate of the proposed NCDs was discovered at 7.79% on the basis of multiple yield allotment method through the Electronic Book Building Platform of BSE Limited on March 26, 2024.”
Buy Tata Motors Shares: Leading brokerage firm Sharekhan has assigned buy rating to large cap auto stock Tata Motors share with target price of Rs 1188 apiece. Current market price of Tata Motors shares on BSE is Rs 978.80 apiece with intraday fall of 0.74%. The company has a market capitalisation of Rs 3,25,279.87 crore. The 52-week high price is Rs 1065.60 per share and 52-week low price is Rs 400.40 per share. Tata Motors shares offered shareholders return of 4.05% in last 1-week, gained 24% year-to-date, and jumped 58% in last 6-months. In last 1-year, the stock offered multibagger returns of 138% and 230% return in last 3-years.
Sharekhan’s March 5 research report stated, “maintain buy with a revised PT of Rs. 1,188. We stay positive on TML and believe that the upswing in values in its businesses would be driven more by the improvement in fundamentals, while separate listings of the CV business and PV business would offer investors the flexibility in playing the individual segment’s growth cycle. Further, a strategic investor may also find easy to invest in any of the individual businesses based on their portfolio choices.”
Buy Titan Company Limited Shares: Last trading price of Titan Company Limited shares on BSE is quoted at Rs 3761.20 per share with intraday gain of 1.65%. The 52-week high price of Titan Company shares on BSE is Rs 3885.00 per share and 52-week low price is Rs 2485.05 per share. The company’s market capitalization stands at Rs 3,39,914.13 crore. Titan Company shares offered return of 4.70% in last 1-week span and gave return of 17% in last 6-months. In last 1-year, Titan shares soared 51% and rose 150% in last 3-years.
Sharekhan assigned buy rating on Titan shares with a revised price target of Rs 4,112 as the jewellery stock trades at 46x/40x its FY2025E/26E EV/EBIDTA. Jewellery business continues to shine, posting a 23% y-o-y growth driven by double-digit growth in footfalls. Titan is expecting a revenue CAGR of more than 20% during FY2022-FY2027 led by an ambitious growth plan in the medium term.
Disclaimer: The stocks have been picked from the brokerage report of Sharekhan and 5Paisa. Highreturn.in, the Author, and the respective Brokerage House will not be liable for any losses due to the decisions based on the article. Highreturn.in suggests users to check with certified professionals before making any investment decision.