Sharekhan's research report on Tata Motors
The management has shared an optimistic outlook for both its PV and CV business in the domestic market. Going forward, Tata Motors is targeting double digit EBITDA margin for CV as well as for PV business. The EV business continues to gain traction and the management is expecting it to be EBITDA positive in the near to medium term.
Outlook
We maintain a Buy with a revised PT of Rs. 633 in expectation of continued improvement in JLR, PV and CV business along with a reduction in net automotive debt from current levels.
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