Preview: India's Tata Consumer falls ahead of quarterly results as margin concerns weigh
BUZZ-PREVIEW-India's Tata Consumer falls ahead of quarterly results as margin concerns weigh ** Shares of Tata Consumer Products TACN.NS fall 3.15% to 933.1 rupees ahead of second-quarter results
** Consumer goods makers face pressure from higher raw material costs even as demand remains steady
** Analysts on an average expect profit to rise 15.6% y/y to 4.66 billion rupees ($49.08 million) and revenue to rise 12.44% to 55.84 billion rupees -- data compiled by LSEG
** Jefferies ("buy", TP:1,450 rupees) expects co's domestic tea revenue to remain broadly flat, while salt sales are forecast to grow in mid-teens
** Motilal Oswal ("buy", TP:1,500 rupees) expects co's newer businesses to maintain about 30% growth, operating margin to improve only marginally despite steady sales growth
** TACN rated "buy" on average by 26 analysts, median PT at 1,337 rupees -- LSEG-compiled by data
** YTD stock down 21.77%
($1 = 94.9400 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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