Tata Motors Market Cap Surpasses Rs 4-Lakh-Crore Mark
Tata Motors' stock rose as much as 6.45% during the day to a life high of Rs 1,094 apiece on the NSE.
The spike in the scrip of Tata Motors Ltd. to life high following a rating upgrade from Nomura propelled the automaker's market capitalisation to surpass the Rs 4-lakh-crore mark.
Nomura Research upgraded the company to 'buy' from 'neutral' with a target price of Rs 1,294 per share from Rs 1,191 apiece earlier. This implies an upside of 26% from the previous close.
Jaguar Land Rover's execution can lead to significant upsides and the earnings growth can be stronger due to a rise in average selling price and margin, Nomura said in a note on July 24.
The brokerage expects JLR's EBIT margin to rise to 8.5% in fiscal 2025 versus 7.8% year-on-year, supported by JLR EV transition and Range Rover premium push.
The launches of Curvv and Harrier EV should support India volume, the note said, adding that the demerger may unlock value for CVs.
The market capitalisation of India’s largest EV maker, in terms of volume, rose to Rs 4 lakh crore on Thursday, a 6.07% surge since yesterday's closing.
Tata Motors' stock rose as much as 6.45% during the day to a life high of Rs 1,094 apiece on the NSE. It was trading 6.06% higher at Rs 1,090 apiece, as compared to a 0.05% decline in the benchmark Nifty 50 as of 3:12 p.m.
.png?auto=format%2Ccompress)
It has risen 70% in the last 12 months and 40% on a year-to-date basis. The total traded volume so far in the day stood at 3.1 times its 30-day average. The relative strength index was at 71.
Twenty-four out of the 35 analysts tracking the company have a 'buy' rating on the stock, six recommend 'hold' and five suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 0.4%.
