BUY 1133| Target 1200| Target 1300| Stop Loss 1070
Tata Technologies (BSE: 544028, NSE: TATATECH) is a global product engineering and digital services company focused on fulfilling our mission of helping the world drive, fly, build, and farm by enabling customers to realize better products and deliver better experiences.
TECHNICAL OUTLOOK
Tata Technologies (TATATECH) stock is in to formation of a falling wedge pattern, signaling a potential reversal from its downtrend. To confirm this, it needs to maintain a price above 1133. Additionally, the stock’s recent close above its 21-day moving average suggests positive momentum. Consider buying if the price remains above 1133, with profit targets at 1200 and 1300, while managing risk with a stop loss at 1070.
FUNDAMENTAL OUTLOOK
Tata Technologies Q3FY24 operating revenue at ₹12,895 million, up 1.6% QoQ and up 14.7% YoY. Companie’s total gross margin at 28.4%, vs. 27% QoQ and 29.1% YoY, while net profit rose 6.1% sequentially to ₹170.2 crore. Dollar revenue was up 0.9% sequentially to $154.8 million, while its earnings before interest and taxes (ebit) margin remain constant year-on-year at 16.2%. stable promotors holdiing and other fundamental factor make this stock fundamentaly atractive.
Holdings
Prmotors :–55.39%
FII :– 2.02%
DII :– 2.50%
Tata Technologie (TATATECH) announced a joint venture with BMW Group for the development of software for the German luxury automaker.Tata Technologies and the BMW Group will each hold a 50 percent stake in the newly-formed company. Most recently Tata Technologies, a global engineering and product development digital services company, has signed a 5-year Memorandum of Agreement (MoA) with the Government of Telangana to modernize 65 government-owned ITIs across the state with a total project cost of INR 2324 Crores.
Key Risk: The company’s revenues are highly dependent on clients concentrated in the automotive segment. any changes may lead to fall in share price of the company.