Tata Motors Share News: Share price rises by more than 7%, record high after Q3 results; Should you buy?

Tata Motors Share News Live Update!

Hello Friends! Follow the latest news from Tata Motors. The company grew its income by 24.9% to ₹110,577 crore in Q3FY24, with British luxury car unit, Jaguar Land Rover (JLR), adding to its income to ₹76,665 crore from ₹58,863 crore.

Share prices of Tata Motors have increased by 11% in the last one month and by more than 44% in the last three months. The stock has doubled investors’ fortunes in a year, as it has gained more than 110% in this time.

Tata Motors share price surged over 7% to hit a new 52-week high on Monday after the company reported strong Q3 results with double profit. Tata Motors shares gained as much as 7.19% to ₹942.00 per share on BSE.

Tata Motors Share News Today

Tata Motors Share News Today Tata Motors posted net profit of ₹7,025 crore in Q3FY24, up 137.5% YoY, underpinned by strong demand for passenger and commercial vehicles, price increases and an excellent product mix. The company’s revenue rose 24.9% to ₹110,577 crore in Q3FY24, including its British luxury car unit, Jaguar Land Rover (JLR), whose revenue rose to ₹76,665 crore from ₹58,863 crore.

Operating performance improved during the December quarter as EBTDA grew 42.5% from last year to ₹15,333 crore and EBTDA margin expanded 171 basis points (bps) to 13.94%.

Global brokerage Jefferies has raised FY24-26 EPS estimates for Tata Motors by 7-11%. It has given a ‘buy’ rating on the stock and raised the target price to ₹1,100 per share.

Tata Motors Share News Today

Tata Motors Share News TodayNomura said Tata Motors’ Q3 JLR margins were ahead of estimates and it considers further rerating likely. This is likely to lead to a re-rating of Jajular by the success of electric vehicles (EV). It has given a ‘buy’ call on the stock with a target of ₹1,057 per share.

Tata Motors’ operating EBTDA came in 3% below Kotak Institutional Equities’ estimates, while its JLR and domestic CV business EBTDA beat expectations on raw material output, while its domestic PV business EBTDA came on the eve of higher product development spend. Was affected due to.

Overall, the domestic brokerage firm expects FY2024-26E performance to remain healthy driven by improving JLR business performance, growing market share outlook in PV and CV segments and net cash balance sheet by FY2025E.

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It has increased FY2024-26 consolidated EBTDA estimates by 1-3% due to improved UBTDA margin estimates for JLR and CV segments. It has raised FY2024-26 JLR EBTDA estimates by 2-4% due to richer product mix and cost-control measures.

Kotak Equities upgraded Tata Motors stock to ‘Add’ from ‘Reduce’ earlier and raised the target to ₹950 per share from ₹800 per share.

Tata Motors share price has gained 11% in the last one month and more than 44% in three months. This stock has doubled investors’ fortunes in one year, as it has gained more than 110% during this period.

Now, at 9:20am, Tata Motors shares were 6.88% higher at ₹939.25 per share on the BSE.

What is your opinion, do you think it would be right to buy Tata Motors Shares at this time? We’d love to hear your thoughts!

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