Tata Consumer | Buy on dips
Tata Global Beverages and its subsidiaries (together referred to as the group) and the group’s associates and joint ventures are engaged in the trading, production and distribution of Tea, Coffee and Water. The group has branded beverage business operations mainly in India, Europe, US, Canada and Australia, plantation business in India and extraction business in India and the US.
The stock has declared EPS of Rs 3.55 during Q1FY21 as against full year EPS of Rs 4.99 which is ~71% of full year EPS. Considering the Covid lockdown the performance during Q1FY21 was good. The stock has fallen about 20% from all time high of 580 and the stock is near 100 MA which could act as potential entry point. The sharp fall has plotted doubt in minds of bulls but we feel that 450 to 460 levels could be good accumulation zone. Q2FY21 results holds the key.
The stock has declared EPS of Rs 3.55 during Q1FY21 as against full year EPS of Rs 4.99 which is ~71% of full year EPS. Considering the Covid lockdown the performance during Q1FY21 was good. The stock has fallen about 20% from all time high of 580 and the stock is near 100 MA which could act as potential entry point. The sharp fall has plotted doubt in minds of bulls but we feel that 450 to 460 levels could be good accumulation zone. Q2FY21 results holds the key.
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