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Tata Motors shares higher on Barclays upgrade

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Tata Motors was trading higher as Barclays upgraded the stock to overweight with a price target of Rs 368.

Shares in Tata Motors were up by more then 1 per cent at Rs 301 on the Bombay Stock Exchange.

While Tata Motors' domestic business remains under stress due to macro concerns, we believe an improved performance from JLR should offset any drag from the standalone operations," Barclays has reportedly said in a note, according to a Reuters report.

 

Tata Motors has been reporting robust numbers from its global operations and is likely to do better in the US, as economic growth there rebounds. However, its domestic business has been a cause for worry given the poor economic growth rates in the country.

GoodReturns.in

Read more about: tata motors barclays bse
Story first published: Thursday, August 29, 2013, 11:15 [IST]
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