Shares of this Tata Group company have been in selling mode for the past few days. On Friday, the stock closed for the 17th consecutive trading day at Rs. It closed below 1,000. Experts have different opinions about this stock.
One expert predicts the stock will fall further. At the same time, some experts believe the stock will once again enter recovery mode.
Shares of Tata Motors, a Tata Group company, closed at Rs 930.70 on Friday. The stock last closed above Rs 1,000 at Rs 1035.45 on September 10, 2024 on the BSE. At current levels the stock is down 20% from its record high.
Let us tell you that on July 30, 2024, the share of Tata Motors reached a record high of Rs 1179.05. Shares of Tata Motors fell to a 52-week low of Rs 613.80 on October 9, 2023. This multibagger auto stock has gained 52% in one year and has given a positive return of 173% in three years.
Global brokerage UBS has advised to sell Tata Motors shares. The brokerage has given a target of Rs.825 for the stock. However, some experts are also bullish on the stock. Brokerage MK Global has set its target price at Rs. 1175 has been kept unchanged.
Yes Securities has given an add rating on the stock. Its price target has been set at Rs 1,240. Choice Broking's equity research analyst Mandar Bhojne is bullish on the stock in the short term. He said- short term target Rs. 1120 to Rs. 1200 in the range. Holding at these levels can prove beneficial.
Tata Motors said it sold a total of 41,063 passenger vehicles (PVs), including electrics, in the domestic market, down eight percent from 44,809 vehicles in September 2023.
Tata Motors' total commercial vehicle sales in the domestic market stood at 28,631 units in September, as against 37,214 units in the same month a year ago. Thus, this segment has decreased by 23 percent.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. Failure to do so may result in financial losses.
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