New Delhi, April 2 -- Shares of Tata Consumer Products surged over 8 per cent on Wednesday, April 2, after Goldman Sachs upgraded the stock rating to 'Buy'. The global brokerage also raised its target price to Rs.1,200 from Rs.1,040, implying a potential upside of 21 percent from the previous closing price of Rs.991.90 per share.

Goldman Sachs cited strong earnings growth potential for Tata Consumer Products over FY25-27, driven by a recovery in tea margins aided by price hikes. The brokerage also highlighted the company's ongoing innovation and distribution expansion in its growth businesses as key factors supporting its bullish outlook.

One of the major catalysts for Goldman Sachs' optimism is the expected reduction in net interest co...