1 week Ago
Shares of Tata Technologies dropped 3.4% to a day's low of Rs 1,074.2 in Monday's trade on the BSE after global brokerage firm Citi maintained its 'Sell' rating on the stock.
Citi, however, raised the target price to Rs 945 from the earlier Rs 935, indicating a downside of 15% from the previous day's closing price of Rs 1,112.5 apiece. In its latest assessment, Citi revised its FY25E-27E estimates marginally upward and adjusted the target multiple to 42x, up from 40x in March 2026, due to the rerating in the Indian market and sector.
Despite acknowledging the strong growth potential driven by resilient tech spending in the automotive vertical, Citi also highlighted certain risks, including uncertainties related to VinFast revenues and client concentration. These factors continue to weigh on the stock's long-term outlook, according to Citi. At 12:17 pm, the stock was trading 3.
2% lower at Rs 1,077.1 on the BSE. Over the past month, the stock has increased by 9%, though it has declined 9% year-to-date.
For Q1 FY25, Tata Technologies reported a 15% drop in consolidated net profit to Rs 162 crore from Rs 191 crore in the same quarter last year. Revenue from operations increased slightly to Rs 1,269 crore from Rs 1,257 crore a year ago. Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Operating EBITDA for the June quarter stood at Rs 231 crore, with margins at 18.
2%. Services revenue decreased by 1% quarter-on-quarter to Rs 985 crore for the April-June 2024 period. In technical terms, the relative strength index (RSI) is currently at 68.
4. An RSI below 30 is considered oversold, while above 70 is considered overbought, according to Trendlyne data. Additionally, the MACD stands at 15.
1, above both its center and signal line, indicating a bullish trend. The stock is trading above its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs). (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
