Tata Motors Target Price 2024 (Image Source: iStockphoto)
Tata Motors shares have witnessed a surge in its share value, closing at Rs 994 on Monday, marking an increase of 0.12 per cent from the previous day’s closing. The company’s shares have been on an upward trajectory, delivering substantial returns to investors over the past few years, with returns exceeding 100 per cent in the last year alone. The share’s 52-week high and low stand at Rs 1,065.60 and Rs 401.60, respectively.
The recent buzz surrounding Tata Motors revolves around its groundbreaking announcement to bifurcate its commercial vehicle (CV) and passenger vehicle (PV) businesses into independent entities. This strategic move aims to unlock the true potential of each segment and provide investors with tailored opportunities for growth. Under this plan, the CV company will encompass Tata Motors’ CV business and related investments, while the PV company will include PV, electric vehicle (EV), Jaguar Land Rover (JLR), and associated investments. This demerger process is anticipated to span 12-15 months, signaling a new era of specialization and focus within the company.
Market experts have weighed in on Tata Motors’ prospects, with Abhishek Gaoshinde, Deputy Vice President – Research at Sharekhan by BNP Paribas, expressing optimism about the company’s future. Gaoshinde emphasized the potential for appreciation in Tata Motors’ business values, driven by improved fundamentals. Additionally, the separate listings of the CV and PV businesses are poised to offer investors greater flexibility to capitalize on the unique growth cycles of each segment. Gaoshinde’s recommendation for the stock remains bullish, advocating for a BUY rating.
Tata Motors Share Price Target
VLA Ambala, a SEBI registered research analyst, echoed sentiments of positivity surrounding Tata Motors’ stock. Despite noting its entry into the overbought zone, VLA Ambala suggested a cautious approach for investors, advising to either purchase the stock in parts or wait for an opportune buying range, expected to be around 850.
According to Ambala, the short-term and mid-term investors were encouraged to consider adding the stock within the range of 915 to 985, with a target price set between 1030 to 1250 over a holding period of 2 to 4 months. A stop-loss at Rs 860 was recommended to mitigate risks. VLA Ambala emphasized the bullish outlook on the stock, framing the current situation as an opportunity to capitalize on potential pullbacks and discounts.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. TT Research DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
