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Buy Tata Chemicals, target price Rs 660: Sagar Doshi

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The Economic Times
23rd October, 2019 08:48 IST

Sagar Doshi of Edelweiss Financial Services has a buy call on Tata Chemicals with a target price of Rs 660. The current market price of Tata Chemicals is Rs 615.75. Sagar Doshi recommended to keep a stop loss at Rs 590.

Tata Chemicals, incorporated in the year 1939, is a mid cap company (having a market cap of Rs 15,686.62 crore) operating in the chemicals sector.

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-mar-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 2744.41 crore. The company has reported a net profit after tax of Rs 315.28 crore in latest quarter. The company’s top management includes Dr.C V Natraj, Mr.Bhaskar Bhat, Mr.K B S Anand, Mr.R Mukundan, Mr.Ratan N Tata, Mr.S Padmanabhan, Mr.Zarir Langrana, Mrs.Padmini Khare Kaicker, Ms.Vibha Paul Rishi. Company has B S R & Co. LLP as its auditor. As on 30-09-2019, the company has a total of 254,756,278 shares outstanding.

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