ICICI Direct recommended hold rating on Tata Motors with a target price of Rs 185 in its research report dated June 06, 2019.
ICICI Direct's research report on Tata Motors
Tata Motors’ luxury car unit and overseas subsidiary i.e. JLR has announced a collaboration with the BMW group to jointly develop technology and mechanics (electric drive units) for electric vehicles. Their collaboration seeks to advance development of electrification technology to support transition to Autonomous, Connected, Electric, Shared (ACES) platform. Both companies will jointly pull resources (labour+ capital) for research and development, engineering and procurement of essential components of EV vehicles and broader ACES domain.
However, the present collaboration mitigates risks over cash flow burn at JLR on upcoming technologies over a longer timeframe. We stick to our HOLD rating on the stock with a target price of Rs 185.
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