Motilal Oswal is bullish on Tata Consumer Products recommended buy rating on the stock with a target price of Rs 450 in its research report dated June 30, 2020.
Motilal Oswal 's research report on Tata Consumer Products
Tata Consumer Products’ (TCPL) FY20 annual report highlights the company’s efforts to leverage the ‘Tata’ brand, create a single FMCG-focused company and participate in India’s INR30t consumption story. FY20 was a milestone year as TCPL completed merger with Consumer Products business of Tata Chemicals (now India Food business), resulting in 33%/64% increase in revenue/EBITDA to INR96.3b/~INR13b. Key highlights below:
We value the stock on SOTP basis to arrive at a target price of INR450. Maintain Buy.
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