This Tata Group stock can rally up to 21% with biz back to pre-Covid levels: ICICI Direct

. “Revenues grew 69.2% year-on-year (YoY) to Rs 1232.6 crore. It was also up 22.4% vs. pre-Covid levels (i.e. Q2FY20) EBITDA margins expanded 800 bps from pre-Covid levels to 23.9% . It declined 590 bps QoQ. Despite lower than expected margins, it remained one of the highest ever margins so far reported in the past 10 years during Q2,” noted the brokerage report.