Shares of Tata Motors closed with a gain of over 3%, buy, sell or hold, know the opinion of experts
This jump in the share price of Tata Motors comes after the news of a 50 percent increase in the sales of the company’s passenger vehicles in December 2021.
On Monday, the share price of Tata Motors increased by 4 percent to Rs 500.80 in intraday. In the first trading day of the year, the stock closed at Rs 497.45 with a gain of 3.13 percent. This jump in the stock price comes after the news of a 50 percent increase in the sales of the company’s passenger vehicles in December 2021. In fact, the company has sold a total of 35,299 passenger vehicles in December 2021, while a year ago in the same period, the company sold a total of 23,545 vehicles.
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What do experts say
- Analysts say that in the year 2022, shares of Tata Motors can perform well in the automobile space. Harsh Patidar, Auto Analyst, Capital Via Global Research, told Financial Express Online, “Tata Motors shares may touch the Rs 700 level this calendar year. This is our preferred bet in the automobile sector.”
- Analysts are bullish on the stock of Tata Motors after the company’s strong sales in December. Ravi Singh, Research Head and Vice President, ShareIndia Securities said, “Tata Motors share price is poised to touch Rs 520-550 level in near future after strong sales figures in December. A bullish trend is visible in the technical setup.
- In the quarter ended December 2021, Tata Motors sold a total of 99,002 passenger vehicles as compared to 68,806 vehicles in the same period last year. In this way, the company has sold 44 percent more vehicles in the December quarter. Ravi Singhal, Vice Chairman, GCL Securities said, “If we look at the monthly sales figures of the auto sector, they are as expected. But, the sales figures of Tata Motors are higher than our expectation. Hence, it can be bought with a target price of Rs 525 and a stop loss of Rs 470.
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Continuous increase in sales of electric vehicles
Tata’s electric vehicle sales are also growing steadily, while total MHCV sales including MHCV trucks, buses and international business stood at 26,329 units in the third quarter of the current fiscal, as against 21,476 units in the same period last year. Manoj Dalmiya, Founder and Director, Profitable Equities said, “Buy and deposit on dips, there is a resistance of Rs 520 one, once it is crossed it will move towards Rs 550.”
(Article: Surbhi Jain)
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