A majority of entities under the Tata Group, one of the largest Multinational Conglomerate companies in India, have released decent financial results for the September 2023 quarter.
Listed below are two mid-cap stocks under the Tata Group universe which are trading at a discount of up to 15 percent from their 52-week high level:
Tata Communications Limited
With a market capitalization of Rs 48,678 crores, the stocks of Tata Communications Limited opened their trading hour on Thursday at Rs 1,699.95 and currently trades at Rs 1,708, gaining around 1.50 percent as compared to the previous closing levels of Rs 1,684 apiece.
The company touched its 52-week high figure in September 2023 at Rs 1,956.85, and, comparing the current stock price levels with the same, the stock portrays a discount of around 13 percent from the high levels mentioned.
Having a walkthrough of the company financials published recently, the operating revenues and net profits have shown opposing movements with the former, on one end, increasing from Rs 4,771.36 crores during Q1FY23-24 to Rs 4,872.5 crores during Q2FY23-24, and, the latter, due to increased expenditures, falling from Rs 373.24 crores to Rs 220.39 crores.
Tata Chemicals Limited
With a market capitalization of Rs 24,320.31 crores, the stocks of Tata Chemicals Limited opened their trading hour on Thursday at Rs 958.95 and currently trades at Rs 954.15, gaining around 0.50 percent as compared to the previous closing levels of Rs 949.35 apiece.
The company touched its 52-week high figure in September 2023 at Rs 1,110.85, and, comparing the current stock price levels with the same, the stock portrays a discount of around 14 percent from the high levels mentioned.
Having a glance at the financials of the company, the company, during the recent financial quarters, reported a dip in operating revenues as well as net profits with the former reducing from Rs 4,218 crores during Q1FY23-24 to Rs 3,998 crores during Q2FY23-24, and, the latter, during the same period, shifting down from Rs 569 crores to Rs 507 crores.
Written by Amit Madnani
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