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Shares of Tata Motors have delivered over 105% return in just one year. The stock hit its 52-week high of Rs 804 on January 2, 2024 and a 52-week low of Rs 381 on January 6, 2023
Part of the USD 128 billion Tata Group, Tata Motors, a USD 42 billion organisation, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. It is India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market
The Tata Group firm reported a net profit of Rs 3,764 crore in the September quarter against a loss of Rs 944.61 crore in the September 2022 quarter. Revenue climbed 32% to Rs 1.04 lakh crore in the second quarter against Rs 78,846 crore in the corresponding period of the preceding fiscal
For December, Tata Motors reported a 4% year-on-year jump in Domestic sales to 76,138 units. Total Commercial Vehicles sales grew by 1% to 34,180 units
JPMorgan has upgraded Tata Group's firm stock to overweight from the earlier stance of neutral. The brokerage revised its price target on Tata Motors to Rs 925 apiece from Rs 680 earlier
JPMorgan said that one of the primary reasons behind the upgrade on Tata Motors was the better-than-expected margin and free-cash-flow (FCF) delivery at Jaguar Land Rover (JLR). JLR reported a free cash flow of £300 million during the September quarter
"The stock after the clear breakout above Rs 735 has once again maintained the strong uptrend with next target visible at Rs 820 levels and thereafter with strength sustaining can achieve the Rs 880 zone. The near term support is at Rs 760 zone," says Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher
"Tata Motors witnessed an 8-year breakout on the monthly charts around Rs 550-560 levels and has run up strongly since then. It has shown strong outperformance against its 4-wheeler peers. While the stock has the potential to go higher, short term traders are advised to book profits. The long term targets are seen around Rs 900 levels where a cluster count target on point and figure charts is placed," says Gaurav Bissa, Vice-President, InCred Equities
"The automaker's total sales is almost 3 lakh crore. Once the company's margins start to come, it is going to be a huge positive for Tata Motors. We have a strong long-term view on Tata Motors and it is worth holding on to the counter," says AK Prabhakar, Head of Capital, IDBI Capital