Tata Motors share price: Investor sentiments turned negative due to change in the top management position in the Indian Multinational automotive manufacturing company, Tata Motors Ltd.

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Tata Motors had on Wednesday announced the resignation of Jaguar Land Rover (JLR) Chief Executive Officer (CEO) and Non-Executive Non-Independent Director, Thierry Bolloré.

JLR’s consecutive resignation cycle: 

Thierry Bolloré has resigned from the position of CEO after serving for only two years. In the past 14 years, this is the fourth resignation from the top position. 

Jaguar Land Rover: Past CEOs 

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Tata Motors: Brokerage Report

Morgan Stanley said that the brokerage firm will monitor JLR’s Free Cash Flow (FCF) improvements as it is the key in deleveraging the story. 

Tata Motors Share Target Price by Morgan Stanley

Morgan Stanley has maintained Overweight rating and has given a target price of Rs 502. 

Tata Motors: Experts' opinion and call 

Vikas Sethi: 

Market Expert and Managing Director of Sethi Finmart, Vikas Sethi said that resignation of CEO is a negative news which will definitely pressurise the stock, but overall if investor is investing for medium to long term, then it is a good buy. If the stock falls to Rs 415 apiece then it would be a good opportunity to enter the stock. 

Simi Bhaumik:

Market Expert Simi Bhaumik said that with the resignation news in picture, there will be profit ticking in the stock. After the Tata Motors stock falls to Rs 426 the next support will be at Rs Rs 417-420, if the stock holds the range investors should buy at lower levels.

Buy at Rs 417-420 

Stop loss- Rs 410 

Intraday players can short below Rs 426 

Resignation News

Automotive manufacturing company on Wednesday announced the resignation of Jaguar Land Rover (JLR) Chief Executive Officer (CEO) and Non-Executive Non-Independent Director, Thierry Bolloré due to personal reasons through a regulatory filing. 

“Jaguar Land Rover Chief Executive Officer Thierry Bolloré, has today announced his resignation from the company for personal reasons, leaving on 31st December 2022,” the filing read.

Thierry Bolloré thanked the JLR team for support during his tenure, "I am immensely proud of what we have achieved together at Jaguar Land Rover over the last two years. The company's transformation and acceleration towards a sustainable, profitable future as a modern luxury business is underway at great pace. I would like to thank the whole team for their dedication and passion and I wish the entire organisation the very best for the future.”

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