Prabhudas Lilladher, a renowned financial services provider, has issued a buy recommendation for Tata Motors, with a target price of Rs 760. Currently, Tata Motors Ltd. is trading at a market price of Rs 629.4.
Tata Motors Ltd., established in the year 1945, operates as a Large Cap company within the Auto sector. The company boasts a substantial market capitalization of Rs 208,639.43 Crore.
Key Products/Revenue Segments for Tata Motors Ltd. encompass Motor Vehicles, Spare Parts & Others, Miscellaneous Goods, Sale of services, and Other Operating Revenue for the fiscal year ending on March 31, 2023.
In the financial quarter concluding on June 30, 2023, Tata Motors reported a Consolidated Total Income of Rs 103,596.62 Crore. This figure represents a slight decline of -3.64% compared to the Total Income of Rs 107,509.28 Crore in the preceding quarter, but it signifies an impressive increase of 42.26% compared to the Total Income of Rs 72,822.02 Crore in the same quarter of the previous year. Furthermore, the company achieved a net profit after tax amounting to Rs 3,089.70 Crore during the latest quarter.
As of June 30, 2023, the promoters held a 46.39% stake in Tata Motors, while FIIs (Foreign Institutional Investors) owned 17.72%, and DIIs (Domestic Institutional Investors) held 17.34% of the company.
Prabhudas Lilladher’s buy recommendation for Tata Motors reflects a positive outlook on the stock, suggesting potential growth opportunities that investors may want to consider.
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