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    HomeNewsBusinessStocksBuy Tata Motors; target of Rs 375: ICICI Direct

    Buy Tata Motors; target of Rs 375: ICICI Direct

    ICICI Direct is bullish on Tata Motors has recommended buy rating on the stock with a target price of Rs 375 in its research report dated July 06, 2021.

    Broker Research
    July 07, 2021 / 15:42 IST
       
       
      26 Aug, 2025 12:21
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      ICICI Direct's research report on Tata Motors

      In a business update, Jaguar Land Rover (JLR) flagged the global semiconductor supply shortage as an area of concern that has impacted Q1FY22 performance (wholesales lower than anticipated by ~27%) and is set to adversely affect near-term outlook as well (Q2FY22E wholesale volumes now seen ~50% lower than earlier expected).

      Outlook

      Accordingly, we maintain BUY with a revised SOTP based target price of Rs 375 (12x, 3.3x FY23E EV/EBITDA to India, JLR businesses respectively; earlier TP Rs 400).

      For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      Broker Research
      first published: Jul 7, 2021 03:42 pm

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