Moneycontrol
Jul 13, 2017 04:53 PM IST | Source: Moneycontrol.com

Buy Tata Global Beverages; target of Rs 195: ICICI Direct

ICICI Direct has recommended buy rating on Tata Global Beverages with a target price of Rs 195 in its research report dated July 12, 2017.

 
 
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ICICI Direct’s research report on Tata Global Beverages

As per media reports, Tata Global Beverages  (TGBL) may sell its stake in various  Tata  group’s  listed  companies  to  its  parent,  Tata  Sons,  in  the coming  months.  TGBL  currently  owns  ~|  725  crore  worth  of  stake  in other   Tata   group   firms, viz.Tata   Chemical   and   Tata   Investment Corporation. TGBL has a 4.39% stake in Tata Chemicals and 0.29% stake in Tata  Investment  Corporation. With  new  Chairman,  N  Chandrasekaran, coming in, the company seems to be taking steps towards improving the return on investments which may restore investors’ confidence.

Outlook

We are upgrading our recommendation to Buy with arevised target price of | 195 per share based on a 24 x multiple (against 18x earlier) of FY19E EPS of | 8.2.

For all recommendations report, click here

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