Rakesh Jhunjhunwala: Jaguar Land Rover has partnered with Nvidia Technology, after which Tata Motors shares have seen a jump today.
Rakesh Jhunjhunwala: The stock of Tata Motors, the favorite stock of veteran investor Rakesh Jhunjhunwala, rose 2.5 percent to Rs 511.40 in intra-day today. Actually, Jaguar Land Rover has partnered with Nvidia Technology, after which Tata Motors shares have seen a jump today. It is a multiyear strategic partnership. Under this partnership, the company will prepare Next Generation Automatic Driving System Plus for its customers.
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Expected growth of 26 percent
Jhunjhunwala held 3.92 crore equity shares of Tata Motors at the end of October-December 2021 quarter. Brokerage firm JP Morgan has given an ‘overweight’ rating on Tata Motors and has set a target price of Rs 630. Today the shares of Tata Motors have closed at a price of Rs 500, according to this the brokerage firm expects a rise of 26 percent in the shares of the company.
The company has said in a BSE press release that under partnership with Nvidia Technology, this program will start from 2025. Under this, the Nvidia Drive software-defined platform will be inbuilt in all Jaguar and Land Rover SUVs. In this, work will be done to improve the safety further. Tata Motors will benefit from this. This is the reason why many brokerage firms are bullish on Tata Motors.
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The brokerage firm has also kept a ‘bull case’ price target of Rs 783. Accordingly, there is a possibility of a 57 percent rally in the stock. JP Morgan believes that Tata Motors will benefit from increasing demand for electric vehicles in the domestic market, so achieving this target is not difficult. Jaguar Land Rover aims to achieve net-zero carbon emissions across its supply chain, products and operations by 2039. “Next generation cars will transform automotive into the largest and most advanced technology industry,” said Jensen Huang, Founder and CEO, Nvidia.
(Article: Surbhi Jain)
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