Purchase Tata Motors with a 787 rupee goal, Sharekhan

 Purchase Tata Motors with a 787 rupee goal, Sharekhan

Sharekhan has high hopes for In a research report dated October 02, 2023, Tata Motors advised a buy rating on the stock, with a target price of Rs 787.

The Tata Motors study report by Sharekhan

JLR aims to achieve net cash positivity by FY25, with a cash flow of GBP 751 million in H1FY24. For JLR, H2FY24 is anticipated to be stronger than H1FY24, since the EBITDA margin for the CV and PV businesses improved quarter over quarter. From Rs 41,700 crore in Q1FY24 to Rs 38,700 crore in Q2FY24, net automotive debt decreased.

Prospects

We maintain our Buy rating with a revised PT of Rs 787 because we anticipate that JLR, PV, and CV business will continue to strengthen and that net automotive debt will continue to decline.