On Monday, October 21, shares of Tata Consumer Products Ltd. dropped by 9%, making them the biggest losers on the Nifty 50 index. This decline followed the company’s September quarter results, which were released after market hours on Friday. It was the largest drop since February 2022, and here are some reasons for the fall:
- The revenue from Tata Consumer's India beverage business fell by 3% compared to last year, with a 4% decrease in sales volume due to low demand. The company also lost 20 basis points in tea market share.
- The ready-to-drink segment saw an 11% revenue drop year-on-year, affected by bad weather and strong competition.
- Although Tata Consumer’s growth business grew by 15% during the quarter, analysts had expected a 30% increase.
- In the Foods division, organic revenue rose by 9%, but volumes only grew by 1%.
- Management noted that the tea business was affected by overall weak market trends, but they are starting to see benefits from their acquisitions of Capital Foods and Organic India.
- On a positive note, Tata Consumer's international business saw margins increase from 10.1% to 15% compared to the same quarter last year.
- The recent acquisitions of Capital Foods and Organic India showed significant growth, with increases of 25% and 45% respectively during the quarter.
ICICI Securities has downgraded Tata Consumer Products' shares from "Buy" to "Add," lowering the price target from ₹1,385 to ₹1,225.
A brokerage has noted that due to high inflation, it has lowered its earnings estimates for Tata Consumer Products for the years 2025 and 2026 by 7% to 8%.
Goldman Sachs has a "neutral" rating on the stock and has reduced its price target to ₹1,050, along with cutting its earnings per share estimates by 10% to 14%.
On the other hand, Morgan Stanley still sees Tata Consumer as a good investment and has given it an "Overweight" rating, but has lowered its price target from ₹1,344 to ₹1,273. They believe focusing on market share rather than margins is crucial for Tata Consumer, especially since demand is slowing down in urban areas while rural demand is slowly improving.
Among the 29 analysts who follow Tata Consumer Products, 22 recommend buying the stock, six suggest holding it, and nine advise selling it.
Currently, shares of Tata Consumer Products are down 9.2%, trading at ₹992.3, making it the biggest loser on the Nifty 50 index. After Monday’s drop, the stock is now negative for the year 2024.
- Tags:
- Latest news
This website, you can find a wide selection of slot machines from famous studios. Users can experience retro-style games as well as new-generation slots with stunning graphics and interactive gameplay. Even if you're new or a seasoned gamer, there’s always a slot to match your mood. <a href="https://futurefly-whitetiger.com">no depisit bonus</a> All slot machines are available anytime and optimized for PCs and mobile devices alike. All games run in your browser, so you can start playing instantly. The interface is user-friendly, making it convenient to explore new games. Join the fun, and discover the excitement of spinning reels!
Aviator blends air travel with high stakes. Jump into the cockpit and play through turbulent skies for massive payouts. With its vintage-inspired visuals, the game captures the spirit of early aviation. <a href="https://www.linkedin.com/posts/robin-kh-150138202_aviator-game-download-activity-7295792143506321408-81HD/">play aviator game download</a> Watch as the plane takes off – claim before it vanishes to lock in your rewards. Featuring instant gameplay and realistic background music, it’s a top choice for casual players. Whether you're chasing wins, Aviator delivers uninterrupted action with every round.
On this site, you can discover a variety of online casinos. Searching for classic games new slot machines, there’s something to suit all preferences. All featured casinos checked thoroughly for safety, allowing users to gamble with confidence. <a href="https://futurefly-whitetiger.com">vavada</a> Additionally, the platform unique promotions and deals for new players including long-term users. Thanks to user-friendly browsing, finding your favorite casino takes just moments, making it convenient. Be in the know on recent updates through regular check-ins, because updated platforms are added regularly.
访问者请注意，这是一个面向18岁以上人群的内容平台。 进入前请确认您已年满十八岁，并同意了解本站内容性质。 本网站包含限制级信息，请自行判断是否适合进入。 <a href="https://windlounge.de">色情网站</a>。 若不符合年龄要求，请立即关闭窗口。 我们致力于提供优质可靠的网络体验。
欢迎光临 这个平台, 这里有 <a href="https://csgoluck.com/">适合成年人的内容</a>. 成年人喜爱的资源 都可以在这里找到. 这些材料 只为 <a href="https://csgoluck.com/">成年人</a> 打造. 在继续之前 您已年满18岁. 体验独特 <a href="https://csgoluck.com/">成熟内容</a>带来的乐趣吧！ 不要错过 属于您的 <a href="https://csgoluck.com/">私人资源</a>. 确保您获得 安全的<a href="https://csgoluck.com/">观看环境</a>.
在此页面，您可以联系专门从事一次性的危险任务的执行者。 我们集合大量技能娴熟的从业人员供您选择。 无论需要何种高风险任务，您都可以方便找到专业的助手。 <a href="https://chinese-hitman-assassin.com">雇佣一名杀手</a> 所有任务完成者均经过背景调查，保证您的机密信息。 任务平台注重专业性，让您的特殊需求更加安心。 如果您需要详细资料，请随时咨询！