Tata Motors’ share price (YTD) has seen a decline of 13 percent. Despite this, Rakesh Jhunjhunwala, who is called the stock market ‘Big Bull’, has decided to retain his stake in Tata Motors. According to stock market experts, Nifty Auto Index has recently given a breakout at the level of 11,000 and it remains intact at 11,100. The availability of semiconductors may give a boost to Rakesh Jhunjhunwala’s stock and other auto stocks in the coming seasons.
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How much can the share price go
On the performance of Tata Motors (Tata Motors Outlook) Sumit Bagadia of Choice Broking says, “Nifty Auto Index has given a breakout at 11,000 level. And it will remain intact at 11,100 level. This share of Rakesh Jhunjhunwala Wala is currently worth buying at a fall of up to Rs 430. This stock can reach the level of Rs 470 to Rs 480 in the coming time.
What is expert opinion?
Talking about the reasons for the rise in the share prices of Tata Motors in the coming times, Avinash, Head of Research, Profit Mart Securities, says, “In the recent past, auto stocks have almost remained out of bounds in the market. But due to the availability of unlocked themes and semiconductors, the shares of Auto Motors can see a rise. This is quality auto stock from which profit can be made.
What is the share of Rakesh Jhunjhunwala?
According to the shareholding pattern from January to March 2022, Rakesh Jhunjhunwala has 3,92,50,000 as per the shareholding pattern i.e. he has about 1.18 percent stake. Let us tell you, during the quarter from October to December, he had the same percentage stake.