India's Tata Consumer gains after Kotak upgrades to 'add'
BUZZ-India's Tata Consumer gains after Kotak upgrades to 'add' ** India's Tata Consumer Products' TACN.NS shares rise as much as 2.3% to 982.1 rupees apiece
** Uptick after Kotak Institutional Equities upgrades TACN to "add" from "reduce" with a revised price target of 1,080 rupees from 1,165 rupees earlier
** While structural headwinds are likely to continue weighing on FMCG growth, companies such as Tata Consumer and Marico MRCO.NS are reshaping and expanding their portfolios to counter the pressure, says Kotak
** MRCO shares up 0.5% on the day; FMCG index .NIFTYFMCG up about 1%
** Brokerage expects margin pressures in the sector to ease by FY2028, supported by a likely moderation in raw material costs
** Average rating of 26 analysts tracking TACN is "buy"; median PT at 1,350 rupees, data compiled by LSEG shows
** TACN down 18% YTD, mirroring the 18.5% drop in FMCG index
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
Recent news on Tata Consumer Products
See all newsIndia's Tata Consumer jumps most in nearly 19 months; broker upgrades cite margin improvement (updated)
India's Tata Consumer rises as brokerages upgrade stock on growth, margin outlook
Brief: Tata Consumer Products Exec Says Starbucks India Traffic Grew Nearly 10% In Q2
India's Tata Consumer Products beats quarterly profit view on packaged food demand (updated)
India's Tata Consumer Products beats quarterly profit view on packaged food demand