Tata Motors Share Rise: The fourth quarter global wholesale sales figures also include the sale of the company’s flagship brand Jaguar Land Rover. Global wholesales of Jaguar Land Rover stood at 107,386 vehicles.
Many shares of the oldest business house Tata Group are giving huge benefits to the investors. Now experts are looking bullish on the shares of a group company and are advising to buy it. This stock belongs to Tata Motors, which has been given a Buy rating by the big four brokerage houses.
Experts, setting a new target price for this stock according to their own, have termed investment in it as a profitable deal. At present, the stock of Tata Motors is trading with a jump of more than 6 percent on the first trading day of the week.
Trading with a speed of 7.62%
The stock market started on the green mark on Monday and both the indices Sensex-Nifty opened with gains. Meanwhile, the Tata Motors stock opened at a level of Rs 452 at 9.15 am and reached a level of Rs 470.75 within just an hour’s trading. At 1 pm, it was trading at Rs 463 with a gain of 6 per cent.
In the last one month period, this stock has given a return of 8.11 per cent to its investors and the brokerage house believes that this stock is going to prove to be profitable for the investors even further.
These four brokerages have given Buy rating
Four big brokerage houses have advised to buy this stock of Tata i.e. Buy Rating. These include Nomura, CLSA, Goldman Sachs and BofaML. Nomura has set a target price of Rs 508/share for Tata Motors, recommending it to buy. On the other hand, CLSA and GS Brokerage have set new target prices of Rs 544 and Rs 550 respectively. Apart from this, the target price set by BofaML for Tata Motors has been set at Rs 475 per share.
These ups and downs in five years
Look at the movement of Tata Motors Share in the last five years, it has given more than 31 percent return to its investors. The price of this stock was Rs 357.05 on April 13, 2018, which came down to Rs 236 a year later i.e. on April 18, 2019. It declined further in the next year and its price came down to Rs 65.30 on 3 April 2020.
After this, the stock of Tata Motors again gained momentum and on April 16, 2021, it reached Rs.310. This boom continued in the next year as well and on April 8, 2022, its price jumped to Rs.452. Whereas on April 10, 2023, this share is seen trading at the level of Rs.471.
Bullish brokerage on Tata’s Titan stock as well
Brokerage houses remain bullish not only on Tata Group’s company Tata Motors, but also on Titan’s shares. Goldman Sachs has given Buy rating to Titan’s stock, describing it as a better option for purchase. The target of this stock has been fixed at Rs 3,175. Apart from this, Citi has also set a target price of Rs 3,091 for Titan while advising to buy shares.
On the other hand, Macquarie has given outperform rating on Titan stock while setting a target of Rs 3,250. Let us tell you that during the trading in the stock market on Monday, till the news was written, it was trading at the level of Rs 2,569 with an increase.
Tata Motors sold 3,61,361 vehicles in the global market in the fourth quarter ending March 31, 2023, which is 8% higher than the same period in FY 22.
Global wholesale
sales figures for the
fourth quarter include the sales of the company’s flagship brand Jaguar Land Rover. Global wholesales of Jaguar Land Rover stood at 107,386 vehicles. In this, Jaguar’s wholesale sales were 15,499 and Land Rover’s wholesale sales were 91,887.
Tata Motors’ global wholesale sales of passenger vehicles stood at 1,35,654 units in Q4 FY23, up 10% over Q4 FY22, Tata Motors said in an exchange filing. However, during the fourth quarter, the company’s wholesale sales of all commercial vehicles and Tata Daewoo range declined by 3% to 118,321 units.
