Tata Motors hits 52 week high on brokerage upgrades

Stocks

oi-Sneha

By Sneha B K

Published: Wednesday, January 9, 2013, 10:34 [IST]

Shares of the Tata Motors rallied more than 3% on Wednesday after Credit Suisse and CLSA upgraded their ratings on the stock.

The multiple upgrades was on expectation in sales. Tata Motors shares were seen trading at Rs 325, higher by 3.96% at 52- week high on BSE at 10.25 pm IST.

Credit Suisse has upgraded the stock to "outperform" from "underweight" and raised its target price on the stock to Rs390 from Rs 226

CLSA has upgraded Tata Motors from "buy" to "outperform" with a price target of Rs 385.

Last week, Bank of America-Merrill Lynch upgraded Tata Motors to "buy" on expectations that Jaguar Land Rover sales will improve in coming days.

Recently, Tata Motors introduced an unbeatable warranty of 4 years, on its entire range of heavy trucks with 25 tonnes and higher GVW (Gross Vehicle Weight).

With this, Tata Motors has become the first company in India to offer a standard warranty of 4 years on heavy trucks, a clear reflection of the reliability and durability of Tata Motors trucks.

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