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Buy Tata Consumer Products; target of Rs 910: ICICI Direct

ICICI Direct is bullish on Tata Consumer Products has recommended buy rating on the stock with a target price of Rs 910 in its research report dated October 25, 2021.

October 28, 2021 / 02:34 PM IST
 
 
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ICICI Direct's research report on Tata Consumer Products


Tata Consumer Products (TCPL) is one of the major FMCG companies present in tea, coffee & other beverages in India, UK, US, Canada and some other geographies. In India, it also has salt, pulses, spices & other food products. Its subsidiary NourishCo is present in packaged water & other beverages. The company is in a JV with Starbucks, which has 233 stores in India. The company has 1500 distribution directly reaching to 1.1 million outlets in India. This will be increased to 1.3 million outlets by March 2022 TCPL is also increasing its rural presence by increasing rural distributors to 5000 by March 2022


Outlook


We continue to maintain our BUY rating on the stock We value the stock at Rs 910 on ascribing 56x FY24 earnings multiple


For all recommendations report, click here

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first published: Oct 28, 2021 02:34 pm
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