Tata Chemicals Faces Share Price Drop and Target Cut Amid Weak Q4 Results

- Tata Chemicals' shares plummeted over 4% as Q4FY24 results show a net loss of ₹841 crore, compared to a profit of ₹692 crore last year.

- Non-cash write-down of assets in the UK contributed to the loss.

- Revenue for Q4FY24 declined by 21.1% to ₹3,475 crore from ₹4,407 crore YoY.

- Consolidated EBITDA dropped by 18% QoQ and 54% YoY, missing analyst estimates by 11%.

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- Kotak Institutional Equities attributes weak earnings to soda ash pricing pressure globally.

- Earnings likely to remain subdued amid oversupply; large impairment charges in the UK indicate challenges.

- Despite earnings collapse, Tata Chemicals stock retains stability amid hopes for Tata Sons IPO, which is unlikely.

- Kotak Equities maintains 'Sell' rating, cuts target price to ₹770 from ₹780, reflecting ongoing challenges.Shares traded 2.06% lower at ₹1,076.40 apiece on the BSE at 10:30 am.

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