Tata Consumer share price hits 52-week high as Q1 PAT jumps 81%

Tata Consumer Products share price jumped 4 percent at open on August 5, a day after the company declared its June quarter numbers.

The company reported 81.78 percent rise in net profit to Rs 345.55 crore for June quarter helped by increase in demand in some categories. The company posted a net profit of Rs 190.09 crore in April-June period a year ago, said TCPL, earlier known as Tata Global Beverages, in a BSE filing.

Revenue from operations was up 13.44 percent to Rs 2,713.91 crore during the quarter under review as against Rs 2,392.36 crore in the corresponding period of the last fiscal.

For the quarter, revenue from operations is higher by 13 percent as compared to corresponding quarter of the previous year led by volume and value growth in branded businesses both in India and International, TCPL said in an earning statement.

Tata Starbucks' operations for Q1 were adversely impacted due to COVID-19. As of June 30 2020, close to 60 percent of the total 186 stores have reopened, it said.

The stock price was trading at Rs 467.50, up Rs 17.75, or 3.95 percent at 09:20 hours. It has touched a 52-week high of Rs 471.70. It was also one of the most active stocks on NSE in terms of volumes with 36,29,219 shares being traded.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock has low debt with FII / FPI or Institutions increasing their shareholding. The stock is showing strong momentum with price above short, medium and long term moving averages.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

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