Tata Motors Stock Analysis: Analysts Bullish on Future Projections

Analysts are expressing bullish sentiments on Tata Motors‘ stock and foresee favorable targets in the coming period. Over the past few trading sessions, Tata Motors has demonstrated a strong upside movement, playing a significant role in keeping the Nifty Auto Index elevated.

In anticipation of the results, Tata Motors’ shares closed at Rs 1,047.00 on Friday, registering a 1.62% increase. The company recently announced its quarterly results, revealing a 46% annual rise in net profit to Rs 17,529 crores for the 2024 fiscal quarter.

Furthermore, Tata Motors consolidated revenue has also increased by 13.3% to Rs 1,19,986.31 crores. The company has declared a dividend of INR 6 per share for the 2024 fiscal quarter. In this quarter, the EBITDA stood at INR 17,900 crores, reflecting a 26.6% increase from the previous comparable quarter.

Technical chart analysis of Tata Motors indicates a robust structure. It is notable that the stock has closed above the previous high level of 1041, signaling a breakout. Peterel Capital Research’s analyst, Kalim Khan, suggests a mid-term target of Rs 1250 for Tata Motors over the next two months with a stop loss setting at Rs 990.

According to trendline data, 21 analysts recommend buying Tata Motors. Amidst market corrections, Tata Motors has shown an upward move from the support level of Rs 950 on April 22, 2024. With a promising fundamental outlook, investors are increasingly drawn towards this company, anticipating a continued positive momentum.