Tata Group Auto Stock Slips 3.26%, Buy For TP Rs 1250: Jefferies, CLSA Recommend

2 leading global brokerage firm Jefferies and CLSA appear upbeat on Tata Motors share and recommended outperform and buy call with maximum target price of Rs 1250 per share. Current market price of Tata Motors share on BSE is Rs 961.05 per share with intraday decline of 1.74% on BSE. Tata Motors shares offered attractive return of 141% in last 2-years and gained over 504% in last 5-years.

Earlier on June 19, Tata Motors announced its plans to increase the price of its commercial vehicles effective 1st July 2024, up to 2%. The price increase is to offset the impact of rising commodity prices. It will be applicable across the entire range of commercial vehicles, and will vary as per individual model and variant.

LIC Stake In Tata Motors: Life Insurance Corporation Of India (LIC) has 3.01% stake in Tata Motors with 100,181,023 shares of the company.

Should You Buy Tata Motors Shares? 2 Brokerages appear bullish on Tata Motors shares and assigned buy rating. CLSA maintained an 'outperform' call on the Tata Motors stock with a target price of Rs 1,181. On the other hand, Jefferies suggested buy call on Tata Motors Ltd share with a target of Rs 1,250.

Tata Motors Share Performance: The 52-week high price of Tata Motors shares on BSE is Rs 1065.60 per share (as on 05/03/2024) and 52-week low price is Rs 557.45 per share (as on 23/06/2023). Tata Motors shares witnessed decline of 0.39% in last 3-months, gained 21% year-to-date, soared 65% in last 1-year, and surged 65% in last 1-year.

Tata Motors Technical: Score is 65.4 highlighting it is technically moderately strong. RSI of Tata Motors is 47.9. RSI below 30 is considered oversold and above 70 overbought. Number of FII/FPI investors increased from 1058 to 1146 in Mar 2024 qtr. Mutual Funds have decreased holdings from 10.37% to 9.50% in Mar 2024 quarter. Number of MF schemes decreased from 43 to 42 in Mar 2024 quarter. FII/FPI have increased holdings from 18.62% to 19.20% in March 2024 quarter. Number of FII/FPI investors increased from 1058 to 1146 in March 2024 quarter.

Tata Motors Dividend History: Tata Motors has already declared 18 dividends since July 3, 2002. In last 1-year, Tata Motors announced an equity dividend amounting to Rs 8.00 per share. At the current share price of Rs 961.05 per share, Tata Motors share offers a dividend yield of 0.83%.

Tata Motors Stock Split History: Tata Motors split the face value of its shares once since September 12, 2011. Tata Motors last split the face value of its shares from Rs 10 to Rs 2 in 2011.The share traded ex-split from September 12, 2011, according to Trendlyne.

Disclaimer: The stock has been picked from the brokerage report of CLSA and Jefferies. 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.