Stock market today: Tata Technologies shares are holding steady, trading flat ahead of the Q1 results today. The share price opened at ₹1019.25 apiece, maintaining this level after a brief surge to an intraday high of ₹1020 per share. However, a sell-off triggered a dip, with the shares touching an intraday low of ₹1008.25 apiece shortly after the opening Bell.
Stock market experts anticipate a marginal revenue growth for Tata Technologies Ltd in the first quarter of the current fiscal year. However, they are more optimistic about the company's net profit, predicting a promising QoQ growth. The recent dip in Tata Technologies shares could be reversed if the Q1 results today meet these expectations, potentially pushing the stock up to ₹1080 soon.
Looking ahead to Q1FY25, Amit Goel, Co-Founder & Chief Global Strategist at Pace 360, shared his insights on Tata Technologies' performance. He expects the company's revenue to rise by 3 percent on a QoQ basis, reaching ₹1,340 Crore, and a promising 11.5 percent QoQ increase in profit after tax, with an estimated figure of ₹175 Crore. These figures indicate a marginal growth from the previous quarter, showcasing a positive trajectory for the company.
Manish Goel advised investors to buy Tata Technologies shares ahead of today's Q1 results: “Tata Technologies share has decreased by 3.80 percent over the previous three months (from ₹1,055 to ₹1,015). We expect Tata Technologies shares to have a mild upward bias post-results, with an expected range of ₹1,060 to ₹1,080.”
"Tata Technologies shareholders can hold the scrip maintaining stop loss at ₹990 for the short-term target of ₹1080. Fresh investors can also buy Tata Technologies shares at the current market price for a short-term target of ₹1080, maintaining a stop loss at ₹990 apiece," reiterated Sumeet Bagadia, Executive Director at Choice Broking, underlining the potential for profit in the short term.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
