More than 50% of Tata Group stocks have outperformed the benchmark BSE Sensex and Nifty50 so far in 2023. As a result, the combined market capitalisation of Tata Group companies surged around 9% year-to-date to Rs 22.87 lakh crore on June 30. Share market experts see more upside in a couple of Tata Group stocks
With a rally of 68% so far in 2023, Benaras Hotels emerged as the top Tata Group gainer. Shares of the company advanced to Rs 4,538.00 on July 6, 2023 from Rs 2,690 on December 30, 2022. The scrip gained nearly 50% in 2022. The stock outperformed benchmark BSE Sensex by a large margin
Tata Motors followed Benaras Hotels shares. After falling 19.50% in 2022, Tata Motors shares gained 50% so far in 2023. Tata Group’s other major companies including Trent, Tata Communications, Tejas Networks, The Indian Hotels Company, Orient Hotels and Tata Elxsi also rallied somewhere up to 30% so far in 2023
Titan Company (up 20%), Tata Coffee (up 11%), Tata Consumer Products (up 10%), Tata Investment Corporation (up 9%), Tata Chemicals (up 7%) and Tata Power (up 7%) stood among other major outperformers from Tata Group. On the other hand, the benchmark BSE Sensex and Nifty50 gained around 6% per cent during the same period
Brokerage firm Sharekhan is bullish on Trent with a target price of Rs 2,025. Meanwhile, ICICI Securities on June 29 gave a ‘Buy’ rating to Tata Communications with a target price of Rs 1,810. Elara Capital has an ‘Accumulate’ rating on Tata Consumer Products with a target price of Rs 933
Tata Consultancy Services (TCS) shares delivered 1.53 per cent returns YTD. Nelco, Automotive Stampings and Tayo Rolls also gained around 2%. IDBI Capital has a ‘Buy’ rating on TCS ahead of Q1 earnings. The brokerage has set a target price of Rs 3,740 for the IT major
Shares of Indian Hotels Company have rallied around 20% so far this year, outperforming Nifty and Sensex. Nuvama Wealth brokerage has a 'buy' call on IHCL stock with a target price of Rs 432 per share. Nuvama Wealth brokerage recommended to keep the stop loss at Rs 389.5. Meanwhile Tata Elxsi shares have surged around 20% so far in 2023
Among the major Tata Group losers, Tata Steel Long Products, TRF, Tinplate Company of India, Tata Steel, Tata Metaliks, Voltas, Rallis India and Tata Teleservices (Maharashtra) declined up to 24% YTD. IIFL Securities in June fixed a target price of Rs 130 for Tata Steel
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position