Tata Motors shares hit a new 52-week high today. Brokerage clsa upgrade target course – News18 Hindi

Tata Motors Share Price: Tata Motors shares had a great rally today. This stock hit its one year high of 589 rupees during the day today. The reason for this boom is attributed to the improved growth prospects of Tata Motors subsidiary Jaguar and Land Rover (JLR) and the approval of Tata Technologies’ IPO. Tata Motors is also part of Rekha Jhunjhunwala’s portfolio. So far in 2023, Tata Motors has seen growth of 49 percent.

Significantly, on June 27, market regulator SEBI (SEBI) approved Tata Tech’s IPO proposal. At the same time, the Tata Group is listing its company on the stock exchange after almost 20 years. Tata Motors owns 74.69 percent of Tata Tech. With the approval of the IPO, investor interest in Tata Motors has increased.

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CLSA raised the price target
Brokerage house CLSA has advised investors to buy Tata Motors shares, according to a Moneycontrol report. The brokerage firm has also raised its price target to 690 rupees from 645 rupees. The brokerage firm also raised Tata Motors’ earnings estimates for fiscal years 2024 and 25 by 11 percent and 18 percent, respectively. CLSA is expected to achieve higher margins in the Jaguar Land Rover (JLR) business. For FY24, CLSA expects JLR’s EBITDA margin to be 6.1 percent. The brokerage firm expects an EBITDA margin of 10.5 percent for Tata Motors’ commercial vehicle business.

Brokerage firm Motilal Oswal Financial Services has also selected Tata Motors as its preferred stock in the auto sector. The brokerage firm said Tata Motors has a strong position in the industry. This veteran automotive company will be the biggest beneficiary of the increasing demand for commercial vehicles.

March quarter results were excellent
Tata Motors posted a profit of 5408 crores in the March quarter. The company had a loss of 1032.84 crores in the same quarter last year. Even on a quarterly basis, the PAT is up 83 percent. Sales have increased by 35 percent annually. Operating income was 105,932.35 crores, which is 78,439.06 crores for the same period last year.

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

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Keywords: Business news in Hindi, stock market, Stock Tips, Tata Motors