Amid the market slump, the automaker’s shares have taken flight, the broker said — the party is just getting started

New Delhi. The Indian stock market fell flat on Friday. However, the market slump had no impact on shares in auto industry giant Tata Motors. On Friday, Tata Motors shares rose more than 7 percent on the day to Rs.453.40. In the evening shares of this veteran car company closed at Rs 445.25 (Tata Motors share price today) up 6.25 per cent on the NSE. Market experts say the increase in Tata Motors shares comes after 7 quarters as the company rebounded from losses in the December quarter.

Investor excitement is high after the company announced strong quarterly results (Tata Motors Q3 Results). The company’s consolidated profit for the period from October to December was Rs 2958 crore. During this period the company’s revenues also increased to Rs 88489 crore. Market experts say the company’s shares could go as high as Rs 500. Many brokers have advised investors to buy shares in Tata Motors. In the same period last year there was a loss of Rs 1516 crore.

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The stake can be up to Rs 500
According to a report in Live Mint, Anuj Gupta, vice president, research, IIFL Securities, says Tata Motors shares could rise to 500 rupees in two or three months. Gupta says investors who have shares in Tata Motors should hold them and keep a stop loss of 420 rupees on it. New investors can invest in this stock as is. He should set a stop loss at Rs.398.

Brokerage is bullish
Brokerage house Motilal Oswal wrote in its note that reducing supply chain problems has helped Tata Motors recover from losses. The brokerage firm has given Tata Motors’ stock a buy rating with a price target of Rs.525. Nomura has also issued a buy rating to Tata Motors with a price target of Rs 508. That is 14 percent more than the current price. Similarly, ICICI Direct is bullish on Tata Motors shares. Brokers are estimating that this stock could go up to Rs 530.

(Disclaimer: The stocks mentioned here are based on the advice of the brokerage houses. If you are interested in investing in any of these stocks, consult a certified investment adviser first. News18 is not responsible for your gain or loss of any kind. Will happen. )

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