Buy Tata Motors, target price Rs 139: Kotak Securities

Kotak Securities has given a buy rating to Tata Motors with a target price of Rs 139. The share price moved up by 1.16 per cent from its previous close of Rs 133.45. The stock’s last traded price is Rs 135.

Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 41237.80 Crore) operating in Auto sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 31481.86 Crore, down 49.18 % from last quarter Sales of Rs 61949.39 Crore and down 48.25 % from last year same quarter Sales of Rs 60830.16 Crore. The Company reported net profit after tax of Rs -8384.22 Crore in latest quarter.


Investment Rationale
Strong double bottom reversal formation along with bullish candle formation.

Promoter/FII Holdings
Promoters held 42.4 per cent stake in the company as of March 31, 2020, while FIIs held 16.8 per cent, DIIs 13.6 per cent and public and other 27.2 per cent.