Tata Motors Stock Price: Tata Motors Ltd (NSE: TATAMOTORS) share rose 3 % around 11 am intraday on November 11. But later it closed almost flat. The share closed with a decrease of 0.056 % and the stock price is 805 rupees.
Despite the weak results of the July-September 2024 quarter, buying in the stock has increased. The net profit of the company decreased by 9.9 % to reach 3,450 crore rupees in the September 2024 quarter.
The profit was Rs 3,832 crore a year ago. Consolidated operating income declined to Rs 1,00,534 crore in the September quarter from Rs 1,04,444 crore in the September 2023 quarter.
The company’s total expenditure in the September 2024 quarter was Rs 97,330 crore, as against Rs 1,00,649 crore a year ago.
Tata Motors Ltd stock opened at Rs 801 on the BSE in the morning. After this, it jumped 3 percent from the previous close price to a high of Rs 831.20.
The day’s trading ended the stock was nearly level at 804.75 rupees. The company’s market capitalization is about 2.96 lakh crore rupees.
Tata Motors reported that Jaguar-Land Rover (JLR) revenue fell 5.6 percent to 6.5 billion pounds in the September 2024 quarter.
JLR’s profits were affected by a short interruption in the supply of aluminum and the imposition of a ban on 6,029 cars to conduct additional quality tests.
Which Brokerage Gave How Many Targets?
Despite the weak second-quarter results, brokerage firms remain bullish on Tata Motors Ltd. However, they have cut the price target.
An investment firm changed the rating of Tata Motors’ stock to “Outperform” and has set an estimated price of 968 rupees. This target is 20 percent higher than the previous closing price of the stock.
The brokerage says that Tata Motors is confident in its JLR guidance and is projecting strong EBIT margins for FY25 and FY26.
The company is wary of commercial vehicles. It is expected that new launches in the segment of passenger vehicles to fuel the growth.
A stock brokerage firm has retained its ‘buy’ rating on Tata Motors Ltd and reduced the target price from Rs 1,303 to Rs 900 per share.
A global broker also kept a “buy” rating for Tata Motors Ltd but reduced the price of the target from 1,330 rupees down to 1000 rupees per share. This is 24 % more than the closing price of the previous day.
A Global Financial Brokerage Firm Gave A ‘sell’ Call
However, the world’s largest financial brokerage firm has issued a sell call’ to Tata Motors Ltd’s share and reduced the price target to the value of 780 rupees per share.
According to the global financial brokerage firm, JLR and commercial vehicle segments have performed poorly, although passenger vehicle sales were in line with expectations.
The brokerage expressed concerns about the credibility of EBIT reported EBIT as well as found the results to be disappointing.
Quick Fact
| Company name | Tata Motors |
|---|---|
| Closing price | ₹805 -(0.056%) |
| Intraday increase (11 am) | 3% (November 11) |
| Closing status | Nearly flat (₹805) |
| Net profit | ₹3,450 crore |
| Net profit change | -9.9% year-over-year |
| Previous net profit | ₹3,832 crore |
| Consolidated income | ₹1,00,534 crore |
| Income change | Decreased from ₹1,04,444 crore |
| Total expenditure | ₹97,330 crore |
| Market cap | ₹2.96 lakh crore |
| JLR revenue | 6.5 billion pounds |
| JLR revenue change | -5.6% |
| JLR challenges | Aluminum supply interruption, 6,029 car testing ban |
| New launches expected | Passenger vehicles |
| Target by firm (Outperform) | Possible ₹968 |
| Time for target (Outperform) | Unknown |
| Target increase (Outperform) | +20% |
| Target by brokerage (Buy) | Possible ₹900 |
| Time for target (Buy) | Unknown |
| Target change (Buy) | Decreased from ₹1,303 |
| Global brokerage target (Buy) | Possible ₹1,000 |
| Target change (Global brokerage) | Decreased from ₹1,330 |
| Target by global financial firm (Sell) | Possible ₹780 |
| Firm concerns (Sell) | Poor JLR and commercial vehicles performance, EBIT credibility doubts |
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. Tata Motors Ltd stock opened at Rs 801 on the BSE in the morning.){kind=link}