Tata Consumer Products shares in tailpin after weak Q2 results; What should investors do?
Tata Consumer Products (TATACONSUM) Share Price: Shares of Tata Consumer Products fell sharply on Monday after the Tata Group company reported a weak set of quarterly earnings. The Tata group’s stock fell by Rs 107.5, or 9.8 percent, to Rs 987.2 apiece on the BSE.
At 11:50 am, shares of Tata Consumer Products (TATACONSUM) were down 9.1 percent on the day at Rs 995 apiece on loan.
After market hours on Friday, Tata Consumer Products reported that its consolidated profit rose 7.7 percent to Rs 364 crore in the July-September period. Revenue rose 12.9 percent to Rs 4,214 crore, according to an official filing.
The company registered a 16.4 percent growth in earnings before interest, taxes, depreciation and amortization (EBITDA) in the second fiscal quarter. Its EBITDA stands at Rs 625 crore.
According to Zee Business research, the Tata group company was expected to register a quarterly revenue of Rs 4,310 crore.
Market expert Anil Singhvi’s take on Tata Consumer Products Q2 results
Zee Business Managing Editor Anil Singhvi described Tata Consumer Products’ results as “very weak” at the start of the year due to poor performance in its India business.
Ahead of the opening bell on Monday, the market advisor suggested selling Tata Consumer Products futures with price targets of Rs 1,072, Rs 1,065 and Rs 1,045 with a stop loss of Rs 1,110.
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