Tata Technologies’ recent stock movement reflects some interesting dynamics. Despite a cautious outlook from Axis Capital, which initiated a ‘reduce’ call with a price target of Rs 950, the stock rose 4 percent to Rs 1,089, extending gains for the second consecutive session.
The brokerage’s concern stems from perceived weak growth prospects, forecasting a 10 percent downside from the last close on the NSE. However, investor sentiment appears more bullish at present, possibly influenced by other factors driving short-term demand.