Tata Motors shares rose 8% in Friday morning trading to 401 on the BSE. Tata Motors shares opened at 401 on the BSE, up 8%, after the homegrown automaker’s net loss narrowed to 1,033 crore within the March quarter, compared to a loss of seven,605 crore the previous year.
Its revenue fell by over 11% year on year (YoY) to 78,439 crore. We always try and maintain to stay our positive impact on the tata motors because our segment may gain a positive market share led by revamped portfolio and customer preferences for SUV and other motors.
By making the fleet improvement utilisation tax rates duties, customs etc, as said by Prabhudas Lilladher. Its ‘Buy’ rating on Tata Motors shares has been maintained, with a revised SOTP-based FY24 target price of 600. The brokerage anticipates pressure in 1QFY23, but believes that over FY23, new products, demand momentum, and price pass-throughs will improve profitability.
Revenue for the Jaguar Land Rover (JLR) business was £4.8 billion within the fourth quarter, a 27 percent decrease from the previous year, due to the discontinuation of the previous generation Range Rover.
With a pick-up in FCF generation momentum within the domestic business led by the CV upcycle; a strong turnaround within the domestic PV business; and JLR confident of generating GBP1 billion in FCF in FY23 despite lockdown challenges within the half-moon, analysts at Ambit remain bullish on Tata Motors becoming near net debt free by FY24E.
The brokerage has maintained its Buy rating on the auto stock, with a SOTP-based target price of $551 (up from $574 previously). “JLR’s order book is powerful at 168,000 units, while dealer inventories are low.” New generation products just like the RR/RR Sport are expected to support advance order bookings.
chip supplies should gradually improve within the longer term. We anticipate a strong 20 percent CAGR over FY22-24E. “Reaffirm Buy with a revised SOTP-based target price of 535 (530 earlier), supported June 2024E (March 2024E earlier) estimates,” Emkay said.
Due to this the share price of each of tata motors rised by 8% percent during today morning.
Follow and connect with us on Facebook, LinkedIn & Twitter
