Shares of TATA Motors witnessed a surge on Tuesday, reaching the highest level in 52 weeks during the second session.
The stock opened low at ₹501.15 but quickly gained momentum to reach today’s high of ₹512.65 per share on BSE.
Analysts predict that TATA Motors will continue to perform well as one of the top performers in the auto sector.
Stock Price Performance
The stock gained 2.49% and closed at Rs 512.65 as compared to the previous session’s closing of Rs 500.20.
The market cap of the firm stood at Rs 1.67 lakh crore. TATA Motors has seen a growth of 24.8% in the past year and 30% growth in 2023.
On May 12, 2022, the stock had hit a 52-week low of Rs 366.05, but has gained 5.66% or Rs 27.5 since April 28 this year.
Expectations for Q4FY23 Results
According to Vineet Bolinjkar, Head of Research at Ventura Securities, investors are eagerly awaiting TATA Motors’ Q4FY23 results announcement on May 12, 2023, given its strong position with revenue growth and profitability.
Bolinjkar believes that several factors could improve the margin profile of the company and benefit its FCF generation in the coming years.
He maintains a price target of Rs 715 per share for TATA Motors shares for FY26.
