New Delhi: ICICI Direct Research has advocated for Container Corporation of India (Concor) and Tata Chemicals to rise in the near future. The brokerage provided the target price and Stop Loss for the mentioned stocks.
Concor share price target
ICICI Direct maintained a Buy rating on Railway PSU stock – Concor. It stated that the share has the potential to rise up to the level of Rs 1,185. The firm advised the shareholders to maintain the Stop Loss at Rs 950. Concor share price closed at Rs 1,028.75 on August 2, 2024. The scrip has given around 11 per cent returns and over 50 per cent gains in the past 6 months and 1 year respectively.
In its Q4 2023-24 results, Container Corporation of India declared a 9.88 per cent increase in consolidated net profit to Rs 301.25 crore as compared to consolidated net profit of Rs 274.14 crore a year ago in the same period.
In its regulatory filing, the Railway PSU mentioned its consolidated revenue from operations stood at 2,417.87 crore, while it was Rs 2,281.75 in the March quarter of 2023-24.
Tata Chemicals share price target
Advocating for Tata Chemicals, the brokerage said the stock can be purchased with a target price of Rs 1,265 and the counter can be safeguarded with a Stop Loss at Rs 1,016. Tata Chemicals share price closed at Rs 1,088 on August 2, 2024. The chemical stock has not gained much in the last six months and past 1 year. It has only appreciated below 10 per cent.
The Tata Group-owned company’s product range provides key ingredients to many of the world’s leading brands for glass, detergents, pharma, biscuit manufacturing, bakeries and other industries.
In its Q4 Results of 2024-25, Tata Chemicals stated that its topline dropped by 21.15 per cent and the loss was recorded at Rs 850 crore. The company has declared a profit of Rs 709 cr in the March quarter of 2023-24. The company mentioned that its revenue declined by 6.84 per cent as the expenses increased.
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Stocks to Buy: The share price of Container Corporation of India (Concor) and Tata Chemicals have the potential to increase. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
