2 Tata Stocks That Hit 52-week Highs, Should You Buy?

Markets have been rallying on the back of persistent buying from Foreign Portfolio Investors. Here are 2 stocks from the Tata Group that have rallied and have hit 52-week highs today.

Trent: Stock on a roll

The stock of this Tata Group company has been on a roll ever since the company declared a superb set of quarterly results. The shares hit a 52-week high of Rs 1478 and were last seen trading at Rs 1467 on the NSE.

Consolidated revenues for the first quarter of Q1FY23 at Rs 1,803 crore grew by 267% over Q1 FY22 and 125% over Q1 FY20. Profit after tax was Rs. 130 crores for Q1FY23.

Trent: Star business sees good response

The Star business with tight footprint stores, sharp pricing and focus on fresh & own brands offerings is witnessing improved customer traction with growing sales densities. "Given the increasingly positive economics at store level, we are optimistic that we can have a differentiated & scalable model to pursue. Consequently, we see the possibility of Star becoming a key and additional growth engine in our portfolio going forward," the company said recently.

Trent: Top retailer across categories

Trent Ltd. operates Westside, one of India's leading chains of fashion retail stores, Zudio, which is a one shop destination to get fashion at great value, Trent Hypermarket, which operates in the competitive food, grocery and daily needs segment under the Star banner, and Landmark Stores, a family entertainment format store. Westside stores have a footprint of predominantly between 18,000-34,000 sq. ft. across over 90 cities. Westside stocks a broad range of products ranging from apparel, footwear, accessories to cosmetics and perfumes to home accessories and gifts amongst others.

Tata Elxsi hits 52-week high

Another stock from the Tata stable that hit a 52-week high was the stock of Tata Elxsi. This stock too rallied on the back of good corporate numbers. Profits After Tax grew 15.4% QoQ and 62.9% YoY to 184.7 Cr. The company's growth was primarily volume led, with all three segments of EPD, IDV and SIS showing robust growth of 6.2%, 6.6% and 19.8% QoQ respectively.

Many brokerages have buy on the stock

Many brokerage firms have a buy on the stock of Tata Elxsi, post the quarterly numbers. Sharekhan had recommended buying the stock last month, but, the price target set by the form has already been reached. The shares are currently trading at Rs 10,662 on the NSE. We suggest avoiding a buy on both the stocks as they have run-up sharply.

About Tata Tata Elxsi

The company is amongst the world's leading providers of design and technology services across industries including Automotive, Broadcast, Communications, Healthcare and Transportation. Tata Elxsi is helping customers reimagine their products and services through design thinking and application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality and Artificial Intelligence.

 

Disclaimer

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