Tata Motors Share Price : Shares of Rakesh Jhunjhunwala’s favorite Tata Motors may rise further 34 per cent from their current levels. The share price of Tata Motors has tripled in the last one year. A year ago the share price of Tata Motors was Rs 98.20 but now it has reached Rs 360.65. Rakesh Jhunjhunwala holds 4.27 crore shares in Tata Motors. In this way he has 1.29 percent stake in the company.
According to brokerage firm Jefferies, shares of Tata Motors will rise by 34 percent
Brokerage firm Jefferies says that Tata Motors share prices may see a further rally of 34 percent from its current level. This strength can be seen in its shares due to the company’s new strategy and cyclic recovery. Jefferies has kept its target price at Rs 455 and has given a ‘Buy’ rating. It believes that by the financial year 2024, the company’s earnings can see an increase of 90 percent. Its EPS will reach near its previous height. The debt will also be almost finished.
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Tata Motors will see good performance in all segments
Jefferies says that cyclical demand across all segments of Tata Motors, rising earnings and cash flow from Jaguar Land Rover will strengthen the company’s shares. Apart from this, the launch of Range Rover and Range Rover Sport models in the next one and a half years and increasing demand for passenger vehicles in India will also increase the shares of Tata Motors. Jefferies has said that JLR will be financially stronger as the focus is now on profit rather than volume. The brokerage firm’s commentary said that the truck market in India is also close to cyclic recovery. The decline in the market share of Tata Motors is also recovering now.
On Thursday (July 1, 2021), Tata Motors announced the sales figures for the first quarter of the financial year 2021-22. According to this, the company has sold 1.14 vehicles in the domestic and international markets. Whereas in the first quarter of the financial year 2020-21, only 24,978 vehicles were sold. Tata Motors’ passenger vehicle division sold 24,110 units in June. This is 111 percent more than in June 2020. In June 2020, only 11,419 units were sold.
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