2 Tata Group Stocks To Buy, Sell As Recommended By PL, HDFC Securities

Two leading brokerage houses have recommended investors to buy and sell two Tata Group stocks. These two stocks are Tata Communications and Indian Hotels Co. Ltd. Indian Hotels shares offered return of 93% in last 1-year and Tata Communications shares gave return of 51% in last 1-year. Meanwhile, FII increased stake in both the stocks in the December quarter. Check details below:

Sell Indian Hotels Co. Ltd. Shares: Noted brokerage firm HDFC Securities has maintained sell rating to Indian Hotels Co. Ltd shares with target price of Rs 456 apiece. Current market price of Indian Hotels Co shares on BSE is Rs 594.10 apiece with intraday gain of 2.63%. The 52-week high price of Indian Hotels shares on BSE is Rs 602.75 apiece and 52-week low price is Rs 300.00 apiece, respectively. The company has a market capitalisation of Rs 84,566.11 crore. Indian Hotels stock gained 36% year-to-date, jumped 93% in last 1-year, and offered return of 190% in last 2-years. In last 3-years, Indian Hotels Co shares gained 418%.

Technical Analysis of Indian Hotels: FII/FPI have increased holdings from 22.17% to 23.28% in Dec 2023 quarter in Indian Hotels, according to Trendlyne. Meanwhile, Mutual Funds have decreased holdings from 18.16% to 17.16% in Dec 2023 quarter. The stock has an RSI of 86.0, RSI above 80 is considered strongly overbought. This implies that stock may show pullback, according to Trendlyne.

Buy Tata Communications Shares: Last trading price of Tata Communications shares on BSE is Rs 1825.20 apiece with intraday gain of 0.33%. 52-week high price of Tata Communications shares on BSE is Rs 1956.85 apiece and 52-week low price is Rs 1157.10 apiece, respectively. The company has a market capitalisation of Rs 52,018.20 crore. Tata Communications rewarded final dividend of Rs 21/share in 2023. Tata Communications shares zoomed 7% in last 1-month and gained 51% in last 1-year. The scrip rallied 434% in last 5-years.

Shilpa Rout of Prabhudas Lilladher predicts a strong increase to Rs 1900 to Rs 1950 levels. Tata Communications is presently trading its futures at nearly Rs 1825. Tata Communications' sustainability above Rs 1800 indicates a positive sign.

Tata Communications Technical Analysis: The stock's RSI is 62.2, RSI below 30 is considered oversold and above 70 overbought, according to Trendlyne. MFI is 87.1, MFI above 80 is considered strongly overbought. This implies that stock may show pullback. FII/FPI have increased holdings from 17.53% to 19.20% in Dec 2023 quarter. Number of FII/FPI investors increased from 276 to 518 in Dec 2023 quarter. Mutual Funds have decreased holdings from 10.08% to 9.74% in Dec 2023 quarter.

Disclaimer: The stocks have been picked from the brokerage reports of HDFC Securities and Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.