Tata Consumer Products Ltd. share price target

LICI: Solid quarter; valuations overdone cut to HOLD. ALKEM: Good quarter; cut to SELL on stretched valuations. Monthly Chartbook: Fiscal consolidation to hold key. PWGR: In-line quarter, FY25 capex hiked; maintain BUY. TATACONS: Strong run continues. DIVI: Healthy margin recovery, heady valuations. TPW: Dull quarter; high valuations maintain HOLD. ESCORTS: Weakness persists - maintain SELL. TRCL: Tepid quarter, high capex overhang retain SELL. Metals & Mining: Ferrous read-across: Steel recovery in CY24 - ArcelorMittal

The acquisition of Capital Foods will help TATACONS to expand its pantry platform with products like Chutneys, Blended Masalas, Sauces and Soups. With this acquisition, TATACONS will be present across multiple cuisines that appeal to the Indian consumer namely Indian/Chinese cuisines through the Sampann portfolio and Chings and Western cuisines through Smith & Jones.

For Q2FY24, TATACONS’ consolidated revenue grew by 11.0% YoY to INR 37,338 Mn, which was flattish (-0.2%) sequentially. India beverages saw a volume/ value growth of 3.0%/ 8.0% YoY, respectively. This was the 3rd consecutive quarter of volume-led growth in the India tea business.