Tata Capital shares edge lower after flat debut. Should you buy, sell or hold the stock?
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Shares of Tata Capital dipped further to Rs 328 apiece on the NSE following a flat debut on Monday, October 13. The much-awaited IPO listed failed to deliver the expected returns with shares debuting at Rs 330, marking just a 1.2% premium over the issue price of Rs 326 apiece on the bourses earlier in the session. What should you do? Emkay Global Financial Services initiated coverage with an Add rating on Tata Capital and a target price of Rs 360 per share, implying about a 10% upside from the IPO price. Despite a subdued market debut, analysts remain optimistic, citing the company’s strong Tata Group backing and improving financial profile as key growth drivers. Emkay noted that Tata Capital’s AAA credit rating and access to low-cost funding, supported by the Tata brand, position it well to become a significant NBFC player. The brokerage projects around a 30% EPS CAGR over FY25–28, led by a turnaround in the vehicle finance segment and a...