Tata Chemicals has gained 25% in a month; ICICI Securities sees further upside
Updated: 23 Aug 2022, 10:41 AM IST
TL;DR.Tata Chemicals EBITDA grew almost two-fold to ₹1,015 crore in Q1FY23 as against ₹601.2 crore in the corresponding quarter of last year. EBITDA margin increased by 25.41 percent year on year, from 20.19%, expanding by almost 522 bps, which is the highest to date.
Domestic brokerage firm ICICI Securities is bullish on the stock after Q1 numbers. The brokerage firm has a target price of ₹1155/share on Tata chemicals, which hints toward an upside of 7 percent from its latest close.