Buy Tata Motors, target price Rs 477: HDFC Securities

HDFC Securities has buy call on Tata Motors with a target price of Rs 477. The current market price of Tata Motors is Rs 423.75. HDFC Securities recommended to keep stop loss at Rs 403.

Tata Motors, incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 140208.27 Crore) operating in Auto sector.

Tata Motors key Products/Revenue Segments include Motor Vehicles, Spare Parts & Others, Miscellaneous Goods, Sale of services and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 80649.88 Crore, up 10.75 % from last quarter Total Income of Rs 72822.02 Crore and up 29.57 % from last year same quarter Total Income of Rs 62245.73 Crore. Company has reported net profit after tax of Rs -1004.07 Crore in latest quarter.

The company’s top management includes Mr.Ratan N Tata, Ms.Vedika Bhandarkar, Ms.Hanne Sorensen, Mr.Om Prakash Bhatt, Mr.Kosaraju V Chowdary, Mr.Thierry Bollor, Mr.Al-Noor Ramji, Mr.Guenter Butschek, Mr.N Chandrasekaran, Mr.Girish Wagh. Company has BSR & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 332 Crore shares outstanding.

Investment Rationale
Stock price is attempting to break through a falling trendline drawn by connecting highs at 488 level.