Tata Motors can move to Rs 335, says Mehraboon Irani, Nirmal Bang.
Irani told CNBC-TV18, “I have remained positive on Tata Motors and the numbers yesterday is not making me change my view. The increasing market of Jaguar Land Rover (JLR) there is lot of positive triggers going to come out from and there are lots of things to play out with. The new Range Rover which the company has launched is doing exceedingly well. The plant where produces Range Rover, it is working at three shifts, increasing market share more and more triggers coming out.”
He further added, “As far as the domestic operations goes, it was expected. For quite some time it is stating that Tata Motors has become a global company and we need to look at JLR. Last month end the management make out with a slight profit warning as far as the margins go as far as JLR is concerned. The market was concerned about it. But EBITA margins at 14 percent for JLR has come as a please all margin. We were expecting around 13.25 or 13.4 percent it came at 14 percent. Going ahead more and more things happening at JLR, there are more and more models expected to be launched. We have a sum of parts calculation for Tata Motors of around Rs 335 for the share price with an upside risk.”