Buy Tata Consumer Products, target price Rs 710: Motilal Oswal

Motilal Oswal has buy call on Tata Consumer Products with a target price of Rs 710. The current market price of Tata Consumer Products Ltd. is Rs 679.3.

Tata Consumer Products Ltd., incorporated in the year 1962, is a Large Cap company (having a market cap of Rs 62647.09 Crore) operating in FMCG sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 3089.05 Crore, up 10.03 % from last quarter Total Income of Rs 2807.56 Crore and up 22.51 % from last year same quarter Total Income of Rs 2521.50 Crore. Company reported net profit after tax of Rs 237.03 Crore in latest quarter.

Investment Rationale
Breakout on weekly frame and surpassed its previous hurdle.

Promoter/FII Holdings
Promoters held 34.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 25.8 per cent, DIIs 13.6 per cent and public and others 26 per cent.