Tata Motors share price rises 2% as CLSA maintains #39;buy#39;
The share touched a 52-week high of Rs 357 and a 52-week low of Rs 82.65 on 03 March, 2021 and 26 May, 2020, respectively.
Tata Motors share price rose 2 percent in the early trade on May 27 as foreign broking house CLSA maintained buy call on the stock with a target price of Rs 450 per share, CNBC-TV18 reported.
According to CLSA, JLR is beginning to outperform the peers. The non-china markets are leading the growth on a lockdown-impacted base.
It estimates JLR’s overall April retail sales grew 150% YoY & 7% versus April 2019. Our calculation is based on a collation of country-level disclosures, the brokerage firm added.
China growth in April remained healthy at 26% YoY (up 20% versus April 2019).
The positive view on the company premised on strong FCF generation & deleveraging.
The company had posted a consolidated loss at Rs 7,605.4 crore in the quarter ended March 2021 against consolidated loss of Rs 9,894.25 crore in the year-ago quarter and profit at Rs 2,906.45 crore in the December 2020 quarter.
The company’s consolidated revenue from operations grew by 41.8 percent year-on-year to Rs 88,627.9 crore in Q4FY21, and the sequential increase in topline was 17.1 percent.
At 09:29 hrs Tata Motors was quoting at Rs 322.05, up Rs 6.55, or 2.08 percent on the BSE.
The share touched a 52-week high of Rs 357 and a 52-week low of Rs 82.65 on 03 March, 2021 and 26 May, 2020, respectively.
Currently, it is trading 9.79 percent below its 52-week high and 289.66 percent above its 52-week low.
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The post Tata Motors share price rises 2% as CLSA maintains #39;buy#39; first appeared on WorthStocks - Share Market Tips.
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