Tata Chemicals's stock shot up nearly 7% on Tuesday, July 29, after Morgan Stanley upgraded it to "Overweight" and bumped its price target to ₹1,127.
The move follows the company's latest results and hints that global chemical supplies are getting tighter.
Tata Chemicals's profits jumped 66% last quarter
Morgan Stanley sees a turnaround ahead, thanks to Tata Chemicals's push for growth and tighter cost control—even as the overall market feels sluggish.
The company's profits jumped 66% last quarter (helped by a tax refund), but it's still facing challenges like weak global demand and low soda ash prices in China.
Despite these bumps, Tata Chemicals is staying optimistic about its future.