Stock To Buy: Macquarie Maintains Outperform Rating On This Tata Group Stock

Macquarie has maintained outperform rating on Tata Group stock, Tata Motors with target price of Rs 511 apiece. Current market price of Tata Motors is Rs 475.00 per share on BSE. According to Macquarie, "Tata Motors targets net cash balance sheet by FY25 vs FY24 previously. The launch of EV is in line with earlier guidance." Check details below:

Tata Motors Stock Performance: The current market price of Tata Motors is Rs 475.00 per share with intraday surge of 1.29%. Its 52-week high price is Rs 494.50 per share and 52-week low price is Rs 366.05 per share. The company has a market capitalisation of Rs 1,57,767.65 crore.

Tata Motors Return & Financial Outlook: The scrip gave return of 15% in last 1-month, 19% in last 6-months, 7.80% in last 1-year, and 59% in last 2-years. The large cap auto sector stock soared 489% in last 3-years. The company for the quarter ended December 31, 2022 declared the consolidated total income at Rs 89,618.97 crore, up 11.12% from last quarter total income of Rs 80,649.88 crore. It declared its net profit after tax at Rs 2939.78 crore in latest quarter.

Tata Motors About: Tata Motors Group (Tata Motors) is a $37 billion organisation. It is a leading global automobile manufacturing company. Its diverse portfolio includes an extensive range of cars, sports utility vehicles, trucks, buses and defence vehicles. Tata Motors is one of India's largest OEMs offering an extensive range of integrated, smart and e-mobility solutions, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Macquarie. Greynium Information Technologies, the author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.