Business · Markets · 1 day ago
Motilal Oswal sees 21% upside in Tata Consumer Products shares
Tata Consumer Products shares fell nearly 13.9% over three months, then closed Friday at ₹953.10 on the BSE, up 0.22% that day.
Motilal Oswal Financial Services rates the Indian company’s shares Buy and set a target price of ₹1,230.
That target is about 21% above the Friday closing price.
The brokerage sees the company’s domestic tea business as resilient, while new products and business areas could reduce its reliance on tea over time.
It also expects price increases to help offset cost pressures in tea.
Tea production is expected to remain flat in FY27, with floods in Assam and West Bengal and El Niño conditions among the challenges.
The brokerage forecasts annual growth of 10% in revenue, 15% in EBITDA and 20% in profit after tax from FY26 to FY28; these are its estimates, not guaranteed outcomes.
Tata Consumer Products shares have fallen nearly 13.88% over three months.
Motilal Oswal Financial Services maintained a Buy rating and set a target price of ₹1,230 per share.
The target implies nearly 21% upside from the share price cited in the report.
The brokerage cited growth in the tea business and expansion of the company’s growth portfolio.
- Who
- Tata Consumer Products and Motilal Oswal Financial Services.
- What
- Motilal Oswal maintained a Buy rating on the shares and set a ₹1,230 target price.
- When
- The report was published on October 10, 2026. The share price cited was Friday’s close.
- Where
- The shares closed on the BSE.
- Why
- Motilal Oswal cited resilient growth in the tea business and expansion of the growth portfolio.
This story does not have two clearly opposing sides.
The company continues to expand its growth portfolio with launches across segments. The growth portfolio is emerging as the next key growth driver, gradually reducing the company’s dependence on its core tea business while reshaping the product mix and tapping into new and large market opportunities.
We expect TATACONS to clock a CAGR of 10%/15%/20% in revenue/EBITDA/ PAT during FY26-28. Reiterate BUY with an SoTP-based TP of INR1,230.
Tata Consumer Products shares declined nearly 13.88%.
The shares closed 0.22% higher at ₹953.10 on the BSE.
Mint published the report on Motilal Oswal’s outlook for the shares.
- Three-month share price change
- Nearly 13.88% decline
- Motilal Oswal rating
- Buy
- Target price
- ₹1,230 per share
- Friday BSE closing price
- ₹953.10
- Forecast period
- FY26–28
Sources
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