Archive · 13 Aug 2026
Jefferies doubles down on Tata Group stocks with 37% upside
The Tata Group is a big family of companies in India that makes many different products, like tea, cars, steel, computers and jewellery.
The head of the group, N Chandrasekaran, has decided he will stop being chairman after his term ends in February 2027.
That news made people wonder what would happen to the Tata companies.
A research company called Jefferies studies businesses and tells investors which shares it thinks will grow.
Jefferies said the change in leadership should not make people nervous right away.
Instead, it looked at each Tata company by itself and focused on how each business is doing.
It told investors to buy shares of four companies: Tata Consumer Products, Tata Steel, Indian Hotels and Voltas.
Jefferies thinks Tata Consumer Products has the best chance, with its shares possibly rising 37%.
It was less hopeful about companies like Tata Consultancy Services and Tata Motors, and said some other Tata companies are just 'Hold'.
Jefferies believes how each business performs matters more than the leadership change.
Jefferies issued four 'Buy' ratings on Tata Group stocks — Tata Consumer Products, Tata Steel, Indian Hotels and Voltas — with implied upside of up to 37%.
The ratings follow Tata Sons chairman N Chandrasekaran's decision not to seek reappointment after his current term ends in February 2027.
Tata Consumer Products carries the highest upside at 37% with a target price of Rs 1,450, followed by Tata Steel (29%), Indian Hotels (21%) and Voltas (19%).
Jefferies kept 'Hold' ratings on Titan and Trent, while Tata Consultancy Services, Tata Motors Passenger Vehicles and Tata Power are rated 'Underperform'.
The brokerage said business fundamentals will prevail over near-term leadership-change concerns, with stock picks driven by hotel demand, consumer growth, steel prices and air-conditioner volumes.
- Who
- Jefferies, the brokerage, and Tata Group companies including Indian Hotels, Tata Consumer Products, Tata Steel and Voltas.
- What
- Jefferies issued 'Buy', 'Hold' and 'Underperform' ratings with target prices on nine Tata Group stocks after Tata Sons chairman N Chandrasekaran announced he will not seek reappointment after February 2027.
- When
- Following N Chandrasekaran's announcement that his term ends in February 2027; the article references June 2026 quarter sales and financial year 2026 data.
- Where
- India, where Tata Group companies operate.
- Why
- The looming Tata Sons leadership transition put succession at the Tata Group back in focus, and Jefferies chose a stock-specific approach based on individual business fundamentals rather than treating the change as a reason for caution.
- Brokerage
- Jefferies
- Context
- Tata Sons chairman N Chandrasekaran will not seek reappointment after his term ends in February 2027
- Buy-rated stocks
- Tata Consumer Products, Tata Steel, Indian Hotels, Voltas
- Highest upside
- 37% on Tata Consumer Products (target price Rs 1,450)
- Hold-rated stocks
- Titan (target Rs 5,000), Trent (target Rs 3,435)
- Underperform-rated stocks
- Tata Consultancy Services (Rs 1,800), Tata Motors Passenger Vehicles (Rs 300), Tata Power (Rs 355)
- Other target prices
- Tata Steel Rs 240, Indian Hotels Rs 875, Voltas Rs 1,530