Tata Chemicals witnessed a 4.5% decline in shares, hitting a day s low of Rs 1,050 on BSE. This drop followed the company s announcement of its first quarterly loss in nine years. Kotak Institutional Equities issued a sell rating on the stock, setting a target price of Rs 770, indicating a potential downside of nearly 29%.
Tata Chemicals share price target: Kotak said its fair value for Tata Chemicals remains at Rs 780, and that it continues to expect EPS for the Tata group company to fall by about two-thirds over FY2023-25E amid falling margins on soda ash.
Vodafone Idea, GMR Airports Infra, Canara Bank, Bandhan Bank , Indus Towers, Punjab National Bank, GNFC, Tata Chemicals and PVR Inox may enter the ban list as these stocks are near the 95 percent MWPL.
Tata Chemicals held 50.06 per cent stake in Rallis India as on June 30. The acquisition has resulted in increase in shareholding of Tata Chemicals in Rallis to 55.04 per cent.
Shares of Tata Chemicals Ltd are in focus after the stock turned ex-dividend today. Tata Chemicals has declared a dividend of Rs 17.50 per share i.e. 175% for the financial year 2022-23 subject to the approval of the shareholders at the AGM. Tata Chemicals stock fell 4.3% to Rs 957.35 against the close of Rs 1,000.35 in the previous trading session on BSE. The stock of Tata Chemicals has fallen after two sessions of gains.