Brokerage is bullish on this Tata share, say buy it, you will get huge profit.

New Delhi. Brokerages are bullish on shares of Tata Motors, a Tata Group company. Shares of Tata Motors rose significantly intraday and crossed Rs 1,000 mark yesterday, Wednesday, after the company announced that it would become debt-free in FY2024. It closed marginally higher at Rs 989.20 in the evening. In the last four years, this multi-bagger share has given investors a return of 1450%. Brokerage firms Jefferies and JM Financial have advised investors to invest in Tata Motors shares.

On Tuesday, the company had informed that Tata Motors has achieved debt-free status for fiscal 2024. Jaguar Land Rover (JLR) could be net debt-free even in fiscal 2025, the company claimed. Notably, the profit of Tata Motors has tripled in the March quarter of FY 2024. The overall net profit for the fourth quarter stood at Rs 17,528.59 crore. The company’s net profit for the fourth quarter (January-March) of the financial year 2022-23 was Rs 5,496.04 crore. The company’s consolidated net profit for the financial year ended March 31, 2024 stood at Rs 31,806.75 crore, as against Rs 2,689.87 crore in the previous financial year 2022-23.

The brokerage advised to buy.
Global brokerage firm Jefferies has rated Buy on Tata Motors. The brokerage has set a target price of Rs 1250 for this share. Jeffries said that Tata Motors is once again focusing on strengthening its franchise. Management is focusing on the passenger vehicle and commercial segments. The emphasis is on increasing the market share in passenger vehicles (PV) from 16 percent in FY27 to 18 percent by FY 2020.

Morgan Stanley has given Tata Motors an ‘equal weight’ rating. The brokerage says that this share can go up to Rs 1150. All the businesses are now able to trade on their own, the brokerage firm said. In such a situation, the company may take the next step towards demerger for further consolidation. MK Global has upgraded Tata’s stock rating to ‘Add’ and also revised the target price to ₹1,050 per share.

JM Financials gave a Buy rating.
Brokerage firm JMM Financials has also given a ‘buy’ rating to the Tata Motors share. The brokerage estimates that this share could go up to Rs 1,200. Notably, Tata Motors shares have given investors a return of 1450% in four years. This means that the Rs 1 lakh invested in this share four years ago has grown to around Rs 15 lakh today.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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