Rakesh Jhunjhunwala Portfolio Inventory: Shares of Tata Motors gained as much as 8% in Friday’s intraday commerce after Jaguar Land Rover (JLR) proprietor Tata Motors Ltd narrowed down losses within the quarter ended March 31, 2022. Inventory, which can also be held by ace investor Rakesh Jhunjhunwala, jumped within the early commerce to the touch the day’s excessive of Rs 403 per share on the BSE on Friday. Huge Bull of the Indian market Jhunjhunwala holds 3,92,50,000 shares aggregating to 1.18% stake on this Tata Group firm, as per the most recent company filings of the corporate on the BSE.
Tata Motors Ltd reported a smaller loss for the fourth quarter on Thursday, as the posh carmaker benefitted from enhancing demand for its automobiles and managed to maintain a lid on rising prices.
Home auto main reported a consolidated web loss to Rs 992.05 crore within the fourth quarter ended March 2022against Rs 7,585.34 crore in the identical interval final fiscal, Tata Motors mentioned in a regulatory submitting on Thursday.
Earlier, Tata Motors has hiked costs no less than 4 occasions in fiscal yr 2022.
For the quarter ended March 31, Tata Motors` value of fabric consumed was down 8.8% at 475.90 billion rupees ($6.15 billion).
Consolidated web loss was 10.33 billion rupees, in contrast with 76.05 billion rupees a yr earlier, when semiconductor shortages and provide chain disruptions harm gross sales.
Final month, rival and the nation`s prime carmaker Maruti Suzuki India Ltd beat estimates for quarterly revenue margins, as a string of value hikes and decrease gross sales promotion bills helped it offset the influence of upper uncooked materials costs.
What do brokerages say?
In the meantime, although brokerage companies slashed their goal value for this Tata Group share after Tata Motors introduced a blended bag within the lately concluded quarter, however they continue to be bullish and have maintained a purchase ranking.
Brokerage agency ICICI Securities minimize the goal value, however maintained a purchase ranking. It gave a purchase name with goal value of Rs 677. It interprets into an upside of 81% on Might 12 closing value of Rs 372 per share. It was of the view that Higher-than-expected profitability boosted FCF and Tata Motors operational efficiency was marginally forward of its estimates.
“As CV cycle turns, TTMT (being the market chief in home CVs) is prone to profit with improved margins. In home PVs, TTMT reached a decadal-high market share of 13.4% in Q4FY22 and can also be main in electrification (EV market share of ~94%). Keep BUY with a revised goal value of Rs677,” mentioned ICICI Securities.
Brokerage home Motilal Oswal sees an upside of 30% on Might 12 closing value of Rs 372 per share.
Although the brokerage agency slashed consolidated EPS estimates for FY 23/24 by 12%, it maintained a purchase ranking on the Tata Group share with goal value of Rs 485 per share. Motilal Oswal’s motive behind minimize in consolidated EPS estimates had been triggered by a quantity minimize in JLR resulting from lockdown in China and slower enchancment in semiconductor provides.
