As of May 9, 2023, the current price of Tata Chemicals is Rs. 966.60 per share, but analysts expect a target price of Rs. 1,110.
With a jump of 7.10% in their total income in the quarter ended March 2023, Tata Chemicals is a relatively safe buy, just like most Tata stocks. However, in the medium term, the soda ash demand-supply dynamic is expected to remain intact.
As of May 9, 2023, the current per-share market value of Tata Chemicals is Rs. 966.60.
The company's gross debt and net debt stood at Rs. 6,476 crores and Rs. 4,357 crores, respectively, as of December 2022. An increase of Rs. 125 crores has been driven primarily by adverse exchange rate movements.
There’s no foolproof method for predicting the price of a stock. However, driven by newer applications like solar glass and lithium-ion batteries, Tata Chemicals expects a demand bias in the soda ash market in FY24.
Tata Chemicals, the world’s second-largest soda ash company, has now identified the food and nourishment platform and the farm input platform as the two key pillars for growth. Furthermore, the company's Europe arm, Tata Chemicals Europe, has set up the UK’s first industrial-scale carbon capture and usage plant in June 2022.