Today’s stock market: Tata Technologies shares remain flat ahead of the Q1 earnings. The share price opened at ₹1019.25 per share and remained there after briefly reaching an intraday high of ₹1020. A sell-off caused a fall, with shares reaching an intraday low of ₹1008.25 per immediately after the opening bell.
Experts in the stock market predict that Tata Technologies Ltd. will see a small increase in sales during the first quarter of its current fiscal year. On the other hand, they anticipate strong QoQ growth and are more upbeat about the company’s net profit. If today’s Q1 results live up to these expectations, the recent decline in Tata Technologies shares could be reversed, and the price could shortly rise to ₹1080.
Preview of Tata Technologies’ Q1FY25 results
Amit Goel, Co-Founder & Chief Global Strategist at Pace 360, offered his predictions for Tata Technologies’ performance for Q1FY25. He projects a 3 percent quarterly gain in revenue for the company, to reach ₹1,340 Crore, and an 11.5 percent quarterly increase in profit after taxes, to reach an estimated ₹175 Crore. These numbers reflect a slight increase from the prior quarter, indicating a promising future for the business.
Target share price for Tata Technologies
Before the release of today’s Q1 results, Manish Goel gave investors advice to purchase Tata Technologies shares: “The share price of Tata Technologies has dropped by 3.80% in the last three months, from ₹1,055 to ₹1,015). Following the results, we predict that Tata Technologies’ shares will have a slight upward bias, trading between ₹1,060 and ₹1,080.
With a short-term goal of ₹1080, shareholders of Tata Technologies may hold the scrip while keeping their stop loss at ₹990. The short-term profit potential is emphasized by Sumeet Bagadia, Executive Director at Choice Broking, who added, “New investors can also purchase Tata Technologies shares at the current market price for a short-term target of ₹1080, maintaining a stop loss at ₹990 apiece.”
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