1:2 Split Soon: Tata's 79-Yr-Old Auto Stock Trending, To Declare Dividend In 5 Days; Rs 1,150/Target

79-Year-old auto giant, Tata Motors has more than doubled investors money in a year. The stock was also top gainer of Nifty in 2023, has continued to show consistent upside even in 2024. Just last week, Tata Motors broke from below Rs 1,000 level to trade above Rs 1,010, moving past its 50-daily moving average. This is a positive bias, and Tata Motors share price is now pointing toward Rs 1,150 which will be its new all-time high.

The performance also comes after its double-digit growth in domestic sales during April 2024. In the coming days, Tata Motors will be in focus for its Q4 results, and dividend recommendations while investors are expecting update on its demerger in the ratio of 1:2. Tata Motors will be dividend into two listed equities soon!

Tata Motors Share Price:

This auto stock ended at Rs 1013.80 apiece, down by 1.4% last week on Friday, with market cap at Rs 3,36,960.66 crore. Despite falling in the last trading session of last week, Tata Motors ended the weekly session on a positive note with upside of 1% from April 29th to May 3rd.

YTD, Tata Motors share price is up by 28% on BSE. In a year, the stock rallied by a whopping 112.45%, and its 5-year gains is even more breathtaking by a whopping 445%.

The stock's 52-week high and low is at Rs 1,065.60 apiece and Rs 476.25 apiece respectively.

In April 2024, Tata Motors' domestic and international market sales stood at 77,521 vehicles, compared to 69,599 units during April 2023. At the same time, its domestic sales recorded growth of 12% in April. Further, its domestic sales of MH&ICV in April 2024, including trucks and buses, stood at 12,722 units, compared to 8,985 units in April 2023. Total sales for MH&ICV Domestic & International Business in April 2024, including trucks and buses, stood at 13,218 units compared to 9,515 units in April 2023. In the case of passenger cars including EVs, Tata Motors posted sales of 47,983 units in April 2024, versus 47,107 units in April 2023.

Tata Motors Stock To See Bullish Trend:

Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox said, "Shares of Tata Motors are scaling higher levels, as the key support of the 50- daily moving average (DMA) set at 982 continues to upkeep the positive bias. The trend is pointing towards 1150, indicating a new all-time high in the following sessions."

Bagkar added, "The strength oscillator, Relative Strength Index (RSI) has yet to hit the overbought territory, suggesting more space for upside. Only consecutive closes beneath 982 could disrupt the short-term positive trend. The broader outlook aims at exploring newer uncharted territories, displays weekly and monthly charts."

Tata Motors price to equity ratio is at 39.77x, while its return on equity is at 36.61%. Earnings per share is at Rs 25.49.

Tata Motors Upcoming Major Events:

Tata Motors will be announcing its Q4 and full-year FY24 results on May 10. Alongside Q4, The company has also proposed to recommend dividends, if any on the Ordinary Shares and 'A' Ordinary Shares in the Company for the financial year ended March 31, 2024, for the approval of the shareholders at the forthcoming 79th Annual General Meeting of the Company. This will be another big booster for Tata Motors DVR.

While many are expecting update on the demerger of 1:2. Tata Motors board has approved the demerger of the company into two separate listed companies housing A) the Commercial Vehicles business and its related investments in one entity and B) the Passenger Vehicles businesses including PV, EV, JLR, and its related investments in another entity.

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