Tata Motors stock: Shares of Tata Motors climbed over 9% in early trade on Friday. Shares of Tata Motors have jumped 9.88% to Rs 408.85 on BSE today. Let us tell you that this rally in shares is being seen after the company’s excellent results of March quarter. A day earlier, the company had said that its integrated net loss has come down to Rs 992.05 crore in the fourth quarter of FY 2021-22.
company quarterly report
According to Tata Motors, the company’s loss in the January-March 2022 quarter has already come down to Rs 1,032.84 crore. Tata Motors reported a loss of Rs 1,516.14 crore in the December 2021 quarter. At the same time, the company had a loss of Rs 7,605.40 crore in the same quarter last year.
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At the same time, on a standalone basis, the net profit of the vehicle manufacturing company declined to Rs 413.35 crore during the quarter under review. It was Rs 1,645.68 crore in the same period a year ago. The company said that its operating income on a standalone basis increased to Rs 17,338.27 crore in the last quarter of FY 2021-22 from Rs 13,480.42 crore in the corresponding quarter of the previous financial year.
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What is expert opinion?
Brokerage Prabhudas Lilladher said, “We maintain our positive stance on Tata Motors as the PV segment is likely to gain further market share on the back of new portfolio, customer preference for SUVs and increasing EV penetration. CV volumes will continue to benefit. , fleet utilization and freight rates will improve. The brokerage firm has given its buy rating on the stock and has maintained its revised SOTP based FY24 target price of ₹ 600. However, according to brokerage firm IIFL Securities, it is expected to remain flat in the month. The share can go up to Rs 460-480. It can be bought at a toploss of Rs 360.