Buy Tata Motors: target of Rs 610: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Tata Motors

Tata Motors’ (TAMO’s) Q3FY22 results were ahead of expectations, led by JLR’s strong operational performance through a favourable product mix and cutting costs. TAMO’s overall performance and FCF is expected to improve gradually, driven by a positive business outlook, new launches, easing chips shortage situation, and favourable macro outlook. Management maintains its long-term targets. TAMO to become earnings’ positive in FY2023E with a PAT of Rs 11,708 crore, driven by a 16.7% revenue CAGR during FY2021E-FY2023E and a 120 bps improvement in EBITDA margin to 13.4% in FY23E from 12.2% in FY21.

Outlook
We maintain a Buy on TAMO with an unchanged PT of Rs.610, driven by an expected recovery in volumes and operational improvement across its business verticals and geographies.

More Info

At 16:00 hrs Tata Motors was quoting at Rs 504.30, down Rs 13.20, or 2.55 percent.

It has touched an intraday high of Rs 514.65 and an intraday low of Rs 493.20.

It was trading with volumes of 2,097,367 shares, compared to its thirty day average of 1,168,593 shares, an increase of 79.48 percent.

In the previous trading session, the share closed up 4.04 percent or Rs 20.10 at Rs 517.50.

The share touched its 52-week high Rs 536.50 and 52-week low Rs 255.55 on 17 November, 2021 and 01 February, 2021, respectively.

Currently, it is trading 6 percent below its 52-week high and 97.34 percent above its 52-week low.

Market capitalisation stands at Rs 167,458.20 crore.

 For all recommendations report, click here

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