Hold Tide Water Oil India Ltd For Target Rs.5,902 - Sushil Finance
We had released our re-instating coverage report on Tide Water Oil Company Ltd. with a Buy rating on February 17, 2020 at Rs.4,985 for a target price of Rs.5,902. Subsequently, the target price was reduced to Rs.5,464 in our Q1 FY21 result update dated August 21, 2020.
In our Q2 FY21 Result Update, we had recommended a BUY for the target price of Rs.5,454 at the then prevailing price of Rs.4,437. Since then the stock has made a high of Rs.5,530 in today’s trade. With the recent run-up in the share price, our revised Target Price for the stock is achieved. Thus, we change our rating from BUY to HOLD.
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