Shares of Tata Motors fell by nearly 10 percent in early trade on Monday. The company’s March quarter results have failed to please the stock market. At the same time, brokerage firms have also said a lot about the company’s results. In such a situation, if you also have shares of Tata Motors, then read this news before buying or selling.
The stock market crashed by 700 points within half an hour on Monday morning due to instability regarding the results of the Lok Sabha elections and before the arrival of inflation data. Investors have lost Rs 4.36 lakh crore due to the market decline. During this period, the maximum decline in the shares of Tata Motors has been seen. As soon as the trading session started, Tata Motors shares fell by 10 percent. In such a situation, if you also have shares of Tata Motors, then this news is useful for you. It is very important for you to know whether you should buy more shares of Tata Motors amid the decline or it would be better to sell them, so let us tell you what you should do.
What do foreign firms have to say?
The world’s leading brokerage companies, which present assessments on the stock market, have shared negative reports regarding Tata Motors. Goldman Sachs, Morgan Stanley and Nomura have downgraded the shares of Tata Motors. At the same time, the city has suspended the rating itself.
What does Nomura have to say?
Global brokerage firm Nomura has reduced the rating of Tata Motors from Buying to Neutral. The firm says that JLR may face demand risk and the growth of commercial vehicles will also decline. However, it raised the target price to Rs 1,141 from Rs 1,057, citing stable performance and fair valuation.
Similarly, Morgan Stanley also downgraded Tata Motors to Norma Weight from Overweight, but increased the target price to Rs 1,100 from Rs 1,013. It said tracking a sharp change in EV pickup leadership in FY15 would be a significant risk. Suspending ratings on Tata Motors, Citi said the outlook is cautiously optimistic.
made huge profits
Tata Motors, a Tata Group company, has released the results for the fourth quarter of the financial year 2023-24, in which the net profit has tripled to Rs 17,528.59 crore. The company’s net profit in the fourth quarter (January-March) of the financial year 2022-23 was Rs 5,496.04 crore. Tata Motors said in the information given to the stock market on Friday that the operating income of the company in the March quarter was Rs 1,19,986.31 crore, whereas in the same quarter last year it was Rs 1,05,932.35 crore. Let us tell you that it has been recommended to give a dividend of Rs 6 or 300 percent for the financial year ending March 31, 2024.
What is the condition of Tata Motors today?
Today in the share market, the shares of the company opened at the level of Rs 1010.30 on BSE. But it fell to Rs 955.40 with a fall of 8.67 percent. At the same time, a huge decline has also been recorded in the shares of Tata Motors Limited ‘DVR’. It fell by more than 8.68 percent to reach an intra-day low of Rs 645.55. Let us tell you, the market was expecting better results in the March quarter.