Tata Group companies have continued to deliver impressive returns to their investors.
However, Tata Motors, a subsidiary of Tata Group, experienced a decline in its shares today.
Despite this, experts from a brokerage firm believe that this dip should be viewed as an excellent opportunity to buy Tata Motors stocks.
The company’s first-quarter performance in the current financial year 2023-24 has been exceptionally promising, and with ambitious targets set ahead, the brokerage advises investors to consider buying the stock.
The shares of Tata Motors closed at Rs 643.25 (Tata Motors Share Price), representing a 0.12 percent decrease on BSE.
The total market capitalization of the company stands at Rs 2,13,678.76 crore.
Brokerage Firm ICICI Securities Recommends “Buy” Rating for Jaguar Land Rover
Domestic brokerage firm ICICI Securities has issued a “buy” rating for Jaguar Land Rover, a subsidiary of Tata Motors.
The recommendation is based on the company’s robust cash flow generation and record profitability projected for the financial year 2024.
Additionally, the firm aims to achieve a net debt-free status by FY25 while focusing on expanding its market share.
To encourage investment, the brokerage has set a target price of Rs 810 for Jaguar Land Rover.
Tata Motors Stocks: A Look at Past Performance
Over the last year, Tata Motors’ stocks experienced significant fluctuations. On December 26, 2022, the stock hit its one-year low at Rs 375.50.
However, in a remarkable turnaround, the shares surged by over 77 percent in seven months, reaching a 12-year record high of Rs 665.30 on July 26, 2023.
Although the stock has slightly decreased by more than 3 percent from this peak, the brokerage’s target suggests a potential increase of up to 26 percent.
