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Tata Motors Shares Jumps 14% As Analysts Up Target
Shares in Tata Motors jumped a huge 14 per cent, following a cut in net losses and improving margins for the quarter ending Sept 30, 2019.
The shares of Tata Motors were last seen trading at Rs 168, up 14 per cent in trade. Revenues at the company were down 9.1 percent to Rs 65,432 crore, which was still higher than most estimates. Net loss narrowed at Rs 216.5 crore versus net loss at Rs 1,049 crore.
What was most impressive at the company was that the EBITDA was up to Rs 7,046 crore, as against an estimate of Rs 5,000 crores.
Most analysts have hiked their target price on the stock. In the last 1-2 years, Tata Motors was among the stocks that was the worst performer in the Sensex, on slowing sales and mounting losses.
The present numbers has reignited strong interest in the stock once again.
