highlights
Tata Motors share gave multibagger returns in the year 2023.
Most of the brokerages are bullish on this share of Tata Group.
JP Morgan has also increased the rating of Tata Motors shares.
Tata Motors Share: Share of Tata Group company Tata Motors (Tata Motors Share) is the only stock included in Nifty 50 which gave multibagger returns in the year 2023. This stock continues to rise even in the new year. Today i.e. on January 4, the share of Tata Motors is trading at the level of Rs 796.65 (Tata Motors Share Price) with a rise of 1.95 percent. Brokerages are also bullish on Tata Motors. Now the foreign brokerage firm has also increased the rating of this stock to overweight. Besides, the brokerage has also increased the target price of Tata Motors shares significantly. JP Morgan says that this stock can rise by 18 percent from the current level.
Analysts at JP Morgan say that the main reason behind increasing the target price of Tata Motors is the better figures of its British subsidiary firm Jaguar Land Rover (JLR). Both JLR’s margins and free cashflow have been better than expectations. The company’s focus is now on profits instead of volumes. Despite tough competition, the company’s market share in the passenger vehicle segment remains good.
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Share can go up to Rs 925
JP Morgan has now set a new target of Rs 925 (Tata Motors Share Target Price) for Tata Motors stock. The new target price is about 36 percent higher than the previous target price. This is 16 percent more than the current price. It is noteworthy that the attitude of most of the brokerages towards Tata Motors is positive. Out of 35 brokerage houses tracking this stock, 28 have given buy rating.
rose today after falling for two days
There were two declines in the shares of Tata Motors in the new year. But, today this stock has once again gained momentum. Today this share opened at Rs 798 with an increase from yesterday’s closing price of Rs 781.95. Once the price crossed Rs 800 during intraday. Till the time of writing the news, Tata Motors share was trading at Rs 796.65 with a rise of 1.95 percent.
Increase in sales in December
Tata Motors’ sales increased by 5 percent on annual basis in December. The company sold a total of 77,855 units last month. Whereas, a year ago i.e. in December 2022, the company had sold 74,356 units. Sales of passenger vehicles increased by 8 percent in December 2023.
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Tag: business news in hindi, Share Market, stock tips, Tata Motors
first published : January 4, 2024, 2:49 PM IST
