Global Brokerage Bets On Multibagger Tata Group Stock, Target Price Rs 502, Return 19%, Buy

Leading global brokerage Morgan Stanley maintained "overweight" rating to Tata Group stock, Tata Motors Ltd with a target price of Rs 502 apiece. If you buy Tata Motors at the current market price of Rs 423 apiece, it will offer a potential return of 19%. It is worth noting that Jaguar Land Rover (JLR) chief executive officer (CEO) Thierry Bollore resigned due to personal reasons after more than two years in the role. Adrian Mardell will be interim CEO.

1. Tata Motors Stock Outlook

The current market price of Tata Motors is Rs 423 apiece with an intraday decline of Rs 1.90%. The 52-week high of the stock is Rs 536 apiece and 52-week low is Rs 366 apiece, respectively.

2. Tata Motors Return

The stock has given multibagger returns to shareholders with 3-years return at 151%. The stock has declined 20% in last 1-year. The stock has fallen 12% in last 3-months. In last 1-week, Tata Motors has gained 7%.

3. Tata Motors Q2 Results

The company announced that its consolidated revenue surged 29% in Q2 to Rs 79,611 crore. The EBITDA margin also improved by 130 bps YoY in Q2 to 9.7%. Tata Motors announced its September quarter loss narrowed to Rs 944 crore from 4,441 crore in the year ago period.

The company declared a consolidated total income for the quarter ended September 30, 2022 at Rs 80,649 crore, up 10% from last quarter total income of Rs 72,822 crore. It declared a net profit after tax in negative at Rs 1004 crore in the latest quarter.

4. About Tata Motors

Tata Motors Ltd. is one among India's largest automobile manufacturers, with a footprint in commercial cars, sports utility vehicles, trucks, buses and defence vehicles. The company operates in two major segments-Automotive Operations and Other Operations.

Tata Motors was established in 1945 as part of the Tata Group and is headquartered in Mumbai, Maharashtra. Tata Motors has an international presence and it operates in more than 125 countries where it caters to customer needs from passenger to commercial vehicles. The company's Automotive Operations operates in four sub-segments-Tata Commercial Vehicles, Tata Passenger Vehicles, Jaguar Land Rover, and Vehicle Financing.

Disclaimer

The stock has been picked from the brokerage report of Morgan Stanley. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.

Check key takeaways below: