Buy Tata Motors; target of Rs 609: Motilal Oswal

It seems that nationwide lockdown has not much impacted the fertilizer sector. In May 2020, the Indian Fertiliser industry has witness sales growth of 25% to 5 million tonnes as compared to 4 million tonnes in the same month last year.  Coromandel International and Chambal Fertilisers have seen major sales growth in the sector. The research firm Prabhudas Lilladher is bullish on 5 stocks in the sector and among that they expect stock Insecticides India may see the upside of 82 percent, report dated June 09, 2020.

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26 Aug, 2025 12:21

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Motilal Oswal's report onTata Motors

JLR Mar-17 wholesale volumes grew 11% YoY (+31% MoM) to 71,609 units, exceeding our estimate of 68,155 units. Jaguar volumes grew 53% YoY to 20,492 units (est. of 19,780 units), driven by F-Pace and XE. Also, XF long-wheel base exhibited good growth in China JV.

The stock trades at 16.1x/7.7x FY18/FY19E consolidated EPS. Maintain Buy with a target price of INR 609 (FY19 SOTP-based) for ordinary shares and INR 426 for DVR (30% discount to TP for ordinary shares).

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