Buy Tata Motors; target of Rs 600: Sharekhan

Sharekhan is bullish on Tata Motors has recommended buy rating on the stock with a target price of Rs 600 in its research report dated May 12, 2023.

Broker Research

May 16, 2023 / 13:47 IST

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Sharekhan's research report on Tata Motors

JLR has guided for a strong performance in FY2024E, owing to robust operating performance in Q4FY2023 This was the second consecutive quarter in a row when JLR, PV, and CV businesses, simultaneously reported a sequential improvement in margins.. Sequentially, net automotive debt declined to Rs 43.7k cr from Rs 57.5k cr, leading to improving balance sheet strength.

Outlook

We maintain Buy on Tata Motors with a revised PT of Rs. 600 in expectation of continued improvement in JLR, PV, and CV businesses along with reduction in net automotive debt from current levels.

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Tata Motors - 15 -05 - 2023 - khan

Broker Research

first published: May 16, 2023 01:47 pm

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