BUZZ-India's Tata Consumer rises; Morgan Stanley expects co to outperform benchmark index
Shares of Tata Consumer Products TACN.NS rise 2.4% to 969.25 rupees
Morgan Stanley expects TACN stock price to rise relative to the benchmark index over the next 30 days; co's stock underperformed BSE Sensex Index .BSESN in the past three months
Stock outperformance on pricing led growth, positive growth in tea operations volumes, and improving growth momentum for business - the brokerage said in a note
Morgan Stanley expects TACN's organic revenue to rise 9% y/y in Q3
"Though absolute valuation is high, we believe market will be willing to pay a premium for this opportunity and sustained growth potential," MS note said
Stock gains for sixth straight session
TACN lost 14.8% in 2024 vs a 41.7% jump in 2023
(Reporting by Vijay Malkar)
((VijayDattaram.Malkar@thomsonreuters.com;))
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