Buy Tata Motors, target price Rs 522: ICICI Direct

ICICI Direct has buy call on Tata Motors with a target price of Rs 522. The current market price of Tata Motors Ltd. is Rs 485.7.

Time period given by analyst is Intra Day when Tata Motors Ltd. price can reach defined target.

Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 160603.29 Crore) operating in Auto sector.


Tata Motors Ltd. key Products/Revenue Segments include Motor Vehicles, Spare Parts & Others, Miscellaneous Goods, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 62245.73 Crore, down -7.08 % from last quarter Total Income of Rs 66988.05 Crore and up 14.92 % from last year same quarter Total Income of Rs 54163.22 Crore. Company reported net profit after tax of Rs -4476.61 Crore in latest quarter.


Investment Rationale
Bullish Pennant continuation pattern offers fresh entry opportunity, MACD in buy mode.

Promoter/FII Holdings
Promoters held 46.41 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.35 per cent, DIIs 13.3 per cent.