Tata Group shares hit 52-week high as inflation eases

NEWS PATIALA: Shares of Tata Group’s FMGC company Tata Consumer Products rose 5 per cent to Rs 863.80 on Wednesday (June 14). The company’s stock hit a 52-week high.

In the last three months, a lot of volatility has been seen in the share price of Tata Consumer Products. The stock touched its 52-week low of Rs 685 on March 16, 2023. After this, an increase of 26 percent has been seen in the stock of the company.

The company’s stock has increased by 7.5 percent in April, 4 percent in May and 8 percent so far in June.

17 percent return in one year

The stock performance of Tata Consumer Products has been very good in the last one year. The stock of the company has given a return of 16.82 percent in one year. Along with this, since the beginning of this year, the company has given a return of 12.78 percent.

The profit of the company has increased by 21 percent

In the March quarter results of the financial year 2022-23, the profit of the company has seen a jump of 21 percent, due to which the profit of the company has increased to Rs 289.6 crore, which was Rs 239 crore a year ago. During this period, the company’s revenue increased by 14 per cent to Rs 3,619 crore from Rs 3,175 crore earlier.

FMCG stocks rose

Retail inflation in May at 5.42 percent and recovery in demand is seeing a boom in FMGC shares. The coming time is also considered good for FMGC companies. The FMGC index is also trading at its all-time high of 51,741. Apart from Tata Consumer Products, the shares of other companies in the FMGC sector like ITC, HUL and Godrej Consumer are seeing a boom.

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