At 10:41 am, shares of Tata Motors were trading higher by Rs 59.50 or 6.77 at Rs 938.25 apiece on BSE.
New Delhi: Shares of Tata Motors jumped over 7 percent on Monday after posting better than expected third quarter earnings. Intra-day Tata Motors shares hit record high of 949.60 on BSE. The shares opened at Rs 942.00 on Monday as against its previous close of Rs 878.80 Friday.
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At 10:41 am, shares of Tata Motors were trading higher by Rs 59.50 or 6.77 at Rs 938.25 apiece on BSE.
Should You Buy Tata Motors Shares? Check What Analyst Says
Brokerage house YES Securities has given a BUY recommendation to Tata Motors.
Recommendation: BUY
CMP: Rs 879
Target Price: Rs 1,060
Potential Return: +21%
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“We estimate revenue/EBITDA/Adj.PAT CAGR of 10%/12%/27% in FY24-26E and maintain BUY with SoTP based TP of Rs1,060 (v/s Rs789 earlier). We raise JLR multiple to 3x (v/s 2x earlier) to factor in for healthy profitability,” YES Securities said.
Tata Motors Q3 Earning
Tata Motors Ltd on Friday reported a 133.32 per cent rise in net profit to Rs 7,100 crore for the December 2023 quarter. The company had posted a net profit of Rs 3,043 crore in the year-ago period, its first profit in two years.
“It is satisfying to see our businesses execute well on their differentiated strategies and deliver a strong set of results for the quarter, thereby making it six quarters of consistent delivery. We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans,” said P.B. Balaji, Group Chief Financial Officer, Tata Motors had said.
