Tata Motors Share Price Target; Stock Up By 60% In 1 year: Check What Brokerages Suggest
Tata Motors on Monday reported a 2 per cent rise in total global sales to 3,29,847 units in the June quarter. The company had sold 3,22,159 units in the April-June quarter of FY24.
Global wholesales of passenger vehicles were lower by 1 per cent year-on-year at 1,38,682 units in the first quarter as against a year ago, Tata Motors said in a statement.
Jaguar Land Rover dispatches stood at 97,755 units in the April-June quarter, a growth of 5 per cent over the same period last fiscal.
Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in Q1 FY25 were at 93,410 units, an increase of 6 percent over Q1 of FY24.
Global brokerage JP Morgan has revised the share price Target for Tata Motors. Check how TATA Motors Share has performed recently and what brokerage says about its future performance.
Tata Motors Share Price Target
Shares of Tata Group company Tata Motors closed in the green on 8th July on BSE. The stock has come on the radar of brokerages after JLR’s (1QFY25) business update. Brokerages are advising to buy shares of auto company Tata Motors.
Brokerage JP Morgan maintained its ‘overweight’ rating on the stock. It has given a target price of Rs 1,115. According to the brokerage, the stock can provide returns of up to 11 per cent from its today’s closing price of Rs 1002.4 apiece on BSE.
Brokerage Macquarie assigned an ‘outperform’ rating to the stock with a revised target of Rs 1,171. The target implies an upside of up to 17 per cent from Thursday’s closing price.
Why Brokerage Are Bullish On Tata Motors Stock
Brokerage J P Morgan said JLR’s product mix in the first quarter was positive. Good margins are visible. JLR’s wholesales (ex-China JV) in 1QFY25 stood at Rs 97.8 thousand. This is 5 percent more on an annual basis. Overall sales were 111K. It has increased by 9 per cent on an annual basis. This is a positive surprise.
Tata Motors’ Q4FY24 Earnings
Tata Motors reported a consolidated net profit of Rs 17,407.2 crore for the January-March period. The net profit was up 3.2 times on a year-on-year basis.
The company registered a growth of 13.3 per cent in revenue to Rs 1,19,986 crore for the March quarter, according to a regulatory filing.
Tata Motors Stock Performance
Shares of Tata Motors were the top performer of Nifty in the last financial year. The stock rose more than 60 per cent in the last one year. Whereas it has given returns of more than 125 percent in 2 years. The stock has gained more than 26 per cent so far this year. The 52 week high of the stock on BSE is 1,065.60 and the low is 592.25. The market cap of the company is more than Rs 3.33 lakh crore, according to the Zee Business report.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
