Tata Motors zooms as carmaker woos Street with a return to profit after two years of losses
Tata Motors Share Price NSE, BSE: Tata Motors shares soared on Friday after the auto major staged a strong all-round financial performance in the October-December 2022 period.
Tata Motors Share Price NSE: Tata Motors shares surged on Friday, after India's third largest carmaker reported a quarterly net profit that far exceeded analysts' expectations boosted by an all-round strong performance. The Tata Motors stock gained by as much as Rs 34.2 or 8.2 per cent to Rs 453.2 apiece on BSE in early deals.
At 9:40 am, Tata Motors were trading higher by 6.4 per cent at Rs 445.6 apiece on the bourse with huge volumes. A total of 8.5 lakh Tata Motors shares already changed hands for the day so far, as against a daily average of 6.9 lakh in the last two weeks, according to exchange data.
Most brokerages have bullish views on the Tata Motors stock after the auto giant's earnings announcement:
Jefferies maintained a 'buy' rating on Tata Motors and raised its target price for the stock by Rs 25 to Rs 565. CLSA, JPMorgan, Morgan Stanley and Goldman Sachs revised their target prices for the stock upwards by Rs 8-30.
On the other hand, Nomura reduced its target for the stock to Rs 508 from Rs 521 and retained a 'buy'.
Tata Motors Target Price 2023
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