Tata Motors Share Price Rises 12% | momentum one day cup 2021 schedule

Tata Motors Share has a goal of Rs 270 per share, and the worldwide research firm retained a buy ranking. The JLR Q3 retail volume increased by 13% QoQ, and the proportion of EVs grew to 12%. JLR retail sales were mostly in-line with monthly trackers, it added, according to a CNBC-TV18 survey.

CLSA assumes that JLR recovery should be driven by good FCF generation and deleveraging for the sector and forecast a sequential volume recovery for JLR. It added that in the industry, Tata Motors remains their top pick.

The research firm forecasts JLR/India CV/India PV Volume for FY20-23, Moneycontrol says, to see CAGR of 0%/8%/28% respectively. JLR's EBIT margin is projected to increase from 0% in FY20 to 5.7% in FY23, adding that auto net debt should decrease from Rs 48,700 crore in FY20 to Rs 33,300 crore in FY23.

Jaguar Land Rover (JLR), owned by Tata Motors, released its sales figures for 2020 on January 11, suggesting a big hit due to the COVID-19 pandemic. Still, the company highlighted signs of recovery as sales in China remained strong.

Jaguar Land Rover retail sales for the year 2020 were 425,974 vehicles, down 23.6% from 2019, reflecting the effect of COVID-19 on the industry, especially in the first half of the year when plants were shut down for more than two months.

However, in the quarter ended September 30, 2020, the firm said it has since seen a quarter-on-quarter rise in revenue by over 53%, followed by a 13.1% increase in the most recent quarter, the study reports.

For the quarter ended December 31, 2020, retail sales were 128,469 vehicles, 13.1% higher than the 113,569 cars sold in the previous quarter, but down 9% on the same time last year. The company said China's revenues were especially promising as they rose by 20.2% and 19.1% year-on-year over the previous quarter.

Reliance Securities Senior Research Analyst Vikas Jain suggests keeping Tata Motors with a target of Rs 240. With the positive flow of news, the stock continued its positive momentum from its 34-month average of Rs 175 levels after its breakout.