Tata Consumer Products share price: Eyeing growth outdoors as Covid fears ease II Sharekhan revises price target to Rs 685
Sharekhan maintains a Buy on Tata Consumer Products with a revised price target of Rs 685 (rolling it over to FY2023E estimates). The stock is currently trading at 42x its FY2021E earnings. Tata Consumer Products' first half FY21 performance was boosted by higher demand for in house consumption (including tea and packaged food) in the domestic and international markets. Going ahead, market share gains from smaller players in the tea and branded pulses segments, product innovation, higher e-Commerce sales and improving demand for out of home consumption (as the virus scare recedes) would drive revenue over FY2021-23E.
Tata Consumer Products launched Tulsi green tea and Tata Tea Gold care to build up its immunity-boosting product portfolio: pic taken from youtube.com