Buy Tata Motors, target price Rs 155: ICICI Securities

ICICI Securities has given a buy rating to Tata Motors with a target price of Rs 155. The share price moved up by 1.45 per cent from its previous close of Rs 141. The stock’s last traded price is Rs 143.05.

Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 43554.53 Crore) operating in Auto sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 52839.02 Crore, up 67.84 % from last quarter Sales of Rs 31481.86 Crore and down -18.41 % from last year same quarter Sales of Rs 64763.39 Crore Company reported net profit after tax of Rs -348.16 Crore in latest quarter.


Investment Rationale
The stock is at the cusp of breakout above the last two months Symmetrical Triangle pattern and the base of the recent consolidation is at 52 weeks EMA.

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.