Tata Group Stock: There are few Tata Group companies whose stocks have given multibagger returns to investors. Two such stocks are Tata Technologies and Tata Power. Now experts are bullish on both these shares. Local brokerage house ICICI Securities has advised to buy both Tata Group shares.
Tata Technologies
In November last year, the brokerage had given a ‘buy’ rating to the shares of the listed company Tata Tech. Along with this, a target price of ₹1330 has been fixed on the stock. Currently the share price is Rs 1052. The stock hit an all-time high of Rs. 1400 is Let us tell you that Tata Tech’s IPO made a strong entry in the stock market. It closed at ₹1314.25, up 162.85 percent from its issue price of ₹500 on the day of listing.
Tata Tech is well-positioned in the fast-growing auto-engineering, research and development (ER&D) segment, ICICI Securities said. It is overtaking traditional IT services. He says the growing reach of digital engineering boosts Tata Tech’s growth prospects.
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Tata Power
Brokerages are also bullish on power sector shares-Tata Power. The brokerage has assigned a ‘Buy’ rating and a target price of ₹490 on the stock. Currently the share price is Rs 441.25. The stock has given multibagger returns with gains of over 109 percent in the last 1 year. At the same time, it has increased by over 31 percent in 2024 YTD. Tata Power is establishing a leading renewable energy (RE) platform by combining both asset-light and asset-heavy businesses, the brokerage said.
The company aims to double its RE capacity in the next two years and is close to commissioning 4GW of cell and module capacity. The company has 13% market share in the rooftop solar market. Additionally, Tata Power is one of India’s largest private power distribution companies and has been expanding its transmission business with recent bid wins.