Domestic benchmark indices are trading lower on Friday after they witnessed heavy drubbing on Thursday. The 30-share index is trading at 51251 levels, 0.47% lower than the previous day, while the 50-share index is trading at 15281 levels, down 0.52%. Overall, the indices are trading 6% lower than their levels a month ago.
Analysts have given targets for these Tata Group Stocks that are trading at their 52-week low:
Tata Consultancy Services (CMP – ₹3068.20)
IT major TCS’ shares are trading at ₹3,068.20, just 0.69% above their 52-week low of ₹3047.20. TCS has the 46th spot in the Kantar Brandz, 2022 Most Valuable Global Brands report. A few other Indian Companies included in the report are HDFC Bank (61st spot), Infosys (64th spot) and LIC (92nd Spot).
Emkay Global Financial is bullish on the shares of TCS. It has recommended a buy rating on the stock with a target price of ₹ 4,000 in its research report dated 15th June 2022. This indicates an upside of 30.36%.
In their interaction with Emkay Global, they said that the deal pipeline remains healthy with a good mix of small, medium and large deals. Further, it indicated that the deal closure velocity remains steady and it is not witnessing delays in decision making. TCS is poised to benefit from strong demand and growing digital transformation opportunities.
Moreover, Tata Consultancy Services announced on Thursday that it has been selected by QIAGEN as the strategic partner for its cloud transformation journey. QIAGEN is a leading global provider of Sample to Insights solutions in life sciences and molecular diagnostics.
Tata Steel (CMP – ₹917.55)
The shares of Tata Steel are trading at ₹917.55 apiece, just 2.42% above their 52-week low of ₹895.50 apiece. The shares have fallen below the ₹1000 level for the first time in 2022. However, the decline was not due to the company’s fundamentals or a worsening outlook. The government had recently imposed export taxes of 15% overnight on eight steel products, in an attempt to tame inflation. This could prove to be a whammy for Tata Steel.
Tata Steel had declared a dividend of ₹51 per share. The shares of the company turned ex-dividend on 15th June 2022. The record date for the same was 16th June 2022. The share prices of companies typically fall after they turn ex-dividend.
Centrum Broking on 3rd June 2022 had given a buy call on the shares of Tata Steel with a target price of ₹1492 achievable in a duration of one year. This translates to an upside of 60.61% as compared to its current market price.
Voltas (CMP – ₹960.05)
The shares of Voltas, a consumer durables company from the Tata Group, are trading at ₹960.05 apiece, just 4.06% above their 52-week low of ₹922.55 apiece.
Voltas Ltd is a large-cap company in the Consumer Durables sector with a market capitalization of ₹ 31,736 crores. It is a leading Room Air Conditioner brand, in India, with a market share of more than 24 %.
ICICI Securities has a holding call on the shares of Voltas Limited, with a target price of ₹ 1033. The time period given by the analyst for the shares to achieve the given target is one year. This implies an upside of 7.60%.
“Voltas struggled to generate positive economic value during FY22 due to a decade-low RoE. We note its EVA creation was impacted for the first time in the past decade. It also lost market share by 180bps in FY22 after gaining for a decade. Voltas Beko customer acceptance has increased and it reported 45% volume growth in FY22, to claim ~3% market share in home appliances segment, ” said the brokerage in a note.
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