Tata Motors NSE share value, Tata Motors Q3 outcomes: Tata Motors shares emerged as prime gainers within the Nifty50 within the opening trades on Monday, February 5. The automaker gained as a lot as Rs 63.2, or 7.18 per cent, to hit an all-time excessive of Rs 942 apiece after auto big Tata Group. – whose standard autos embody the Nexon and Punch – introduced a set of better-than-expected monetary outcomes for the October-December interval (3QFY2024).
Tata Motors outcomes for the third quarter
Tata Motors on Friday reported a consolidated web revenue of Rs 7,025.1 crore for the quarter ended December 31, 2023, representing a rise of two.4 occasions over the corresponding interval final 12 months. Its income grew by 1 / 4 year-on-year to Rs 1,09,799.2 crore, in keeping with a regulatory submitting.
Based on Zee Enterprise Analysis, automaker Tata Group is predicted to report a consolidated web revenue of Rs 4,100 crore and income of Rs 1,07,800 crore for the third fiscal quarter. Income from Tata Motors’ industrial car and passenger car segments rose 19.2 per cent to Rs 20,100 crore and 10.6 per cent to Rs 12,900 crore respectively, in keeping with a press release.
Tata Motors reported 60.6 per cent progress in earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) to Rs 15,800 crore for the quarter below evaluate. Tata Motors stated Jaguar Land Rover’s revenues elevated 22 % to 7.4 billion kilos. Learn extra
Goal value for Tata Motors shares: What do the brokerage firms recommend?
Tata Motors | ||
Mediation | analysis | Goal (INR) |
Jefferies | He buys | 1100 |
CLSA | He buys | 1061 |
JP Morgan | chubby | 1000 |
Morgan Stanley | chubby | 1013 |
Macquarie | Outperform | 1028 |
Nomura | He buys | 1057 |
Goldman Sachs | He buys | 960 |
HSBC | Catch | 920 |
Jefferies maintained its purchase name on Tata Motors with an elevated goal to Rs 1,100 from Rs 950, the best amongst its friends. “Q3 EBITDA rose 59 per cent YoY (+12 per cent QoQ) to a brand new excessive (9 per cent above JEFe). Tata expects enchancment in This autumn led by seasonality and improved provides At Jaguar Land Rover, it raised earnings per share for the 2024-26 monetary 12 months by 7-11 per cent, Jefferies highlighted in its be aware.
As well as, Nomura and Goldman Sachs additionally continued their bidding on Tata Motors. Whereas Nomura raised the goal to Rs 1,057 from 953, Goldman Sachs raised the goal by Rs 90 on the inventory to Rs 960.
JLR’s third-quarter margins are forward – an extra rerating is probably going, Nomura stated in its be aware. Web debt is predicted to fall by INR 150 lakh by FY26. The success of electrical autos may result in a rerating of Jaguar Land Rover. JLR’s third-quarter EBIT margins are forward at 8.8 per cent. Nomura added in its be aware that the counter is buying and selling at 5 occasions EBITDA in fiscal 2026.
“Q3 EBITDA is +2%/+9% forward of consensus, as better-than-expected danger realization and improved CV combine and pricing assist EBIT margin,” Goldman Sachs stated in its be aware. By 50 foundation factors.
HSBC maintained the maintain possibility on the counter whereas growing the goal to INR 920 from INR 730. It continued to beat estimates, led by benign international demand, pricing and continued demand for reserve reserves, in keeping with HSBC.
Based on HSBC, the near-term outlook stays robust and should preserve shares buoyant. The launch of CURVV is a key factor to look at for native companies. The analysis appears very harsh in keeping with the brokerage.
Morgan Stanley maintained its chubby desire for Jaguar Land Rover pushed by deleveraging and electrical autos pushed by the PV transition. The brokerage has raised the goal to Rs 1,013 from Rs 890.
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