Top analysts see Tata Motors beating October-December forecasts

Tata Motors could beat consensus earnings per share ( EPS) estimates by 6 per cent in the October-December quarter, according to Thomson Reuters StarMine SmartEstimate data.

Tata Motors is due to post results on Thursday. StarMineSmartEstimate suggests EPS for the quarter ending December at Rs 9.68 compared with mean estimates of Rs 9.13.

Earlier today, Tata Motors Ltd surged by about 4 per cent in early trade after the automobile giant said Jaguar Land Rover ( JLR) sold 34,877 vehicles during the first month of 2013 - an increase of 32 per cent versus the same period last year.

The Jaguar sales registered a robust 40.3 per cent Y-o-Y (16.6% M-o-M) growth led by strong sales in the XF and XJ models which rose by 36.8 per cent and 70.4 per cent Y-o-Y respectively.

"From a valuation perspective, Tata Motors continues to look interesting, valuations are not terribly expensive and as long as these volume numbers continue to surprise the market, the stock would hold and maybe even move up from here," said Nitin Raheja, CIO, AQF Advisors.