Buy Tata Stock For Higher Return, Rs 17.50/Share Dividend Income: Nirmal Bang

Leading brokerage firm Nirmal Bang has assigned buy call to Tata Group stock, Tata Chemicals with target price of Rs 1177 apiece. Current market price of Tata Chemicals is Rs 968.95 per share with intraday fall of 0.16%. If you buy Tata Chemicals share now, you can get potential return of 22%. Board of directors of Tata Chemicals recommended a dividend of Rs 17.50 per share on May 3. It will go ex-dividend on June 14, 2023. Check details below:

Tata Chemicals Stock Performance & Return: Last trading price of Tata Chemicals is Rs 967.45 per share. Tata Chemicals share 52-week high price is Rs 1214.65 per share and 52-week low price is Rs 773.90 per share, respectively. It has a market capitalisation of Rs 24,684.61 crore. Tata Chemicals share delivered 2% return in last 1-year, 37% return in last 2-years, and 214% return in last 3-years.

Tata Chemicals Declared Dividend: According to the BSE filing of the company, "Pursuant to Regulation 30 read with Schedule III Part A Para A of the Listing Regulations, the Board has recommended a dividend of Rs 17.50 per share i.e. 175% for the financial year 2022-23 subject to the approval of the shareholders at the ensuing 84th Annual General Meeting of the Company."

Tata Chemicals Valuation: According to Nirmal Bang, "The management of Tata Chemicals (TTCH) sounded bullish on long term growth prospects in Soda Ash during the group investor meetings at NBIE annual investor conference, May 2023. The company's 4QFY23 PPT indicates plans to expand Soda Ash capacity from 4.38mn tpa (post the 0.23mn tpa expansion underway at Mithapur, India) by another 30% by FY27."

About Tata Chemicals: Tata Chemicals is a science-led company with a portfolio that covers basic and specialty chemistry products. The story of the company is about harnessing the fruits of science for goals that go beyond business. The history of Tata Chemicals can be traced to the Okhamandal Salt Works set up in 1927, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Nirmal Bang. 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 check with certified experts before taking any investment decision.