Tata Motors share price rallies over 4% after Q2 results 2023

Hello friends, in this article we will talk about the Tata Motors share price. Tata Motors Limited is an Indian Multinational automotive company and it’s headquartered in Mumbai. This firm is part of the Tata Group. The company produces cars, trucks, vans, and buses. Tata Motors’ share cost mobilized more than 4% in early trade on Friday after the firm declared the September quarter revenues in line with street estimations. Currently, this news has been gaining huge attention from people and lots of people are super keen to know about the whole information. Here we have more information about the news and we will share it with you in this article.

Tata Motors

Shares of Tata Motors increased 4.49% to ₹665.45 apiece on the BSE. Auto major Tata Motors reported on Thursday close net proceeds of ₹3,783 crore for the second quarter of FY24, guided by strong performance by Jaguar Land Rover. The firm also posted a close net loss of ₹1,004 crore in the July- September period previous fiscal. The company’s complete compressed earnings from functions in Q2FY24 increased 32% to ₹1,05,128 crore in the previous year, especially due to a 21% rise in the retail sales of JLR models including its China joint venture. Scroll down to the next page for more information about the news.

This is the fourth consecutive quarter of positive results for the auto major. Its British luxury arm Jaguar Land Rover’s (JLR) income expanded by 30.4% year on year with powerful wholesales and improved mix. JRS increased its FY24 EBIT margin direction to 8% from 6% earlier. The display and wholesale volumes have been predicted to rise in H2FY24. JLR restarts to expect free cash flow of over £2 billion in FY24. You are on the right page for more information about the news, so please read the complete article.

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Nuvama Institutional Equities

Brokerage company Nuvama Institutional Equities stated Tata Motors remains one of its top picks on anticipations of sales cycle recovery, margin growth, and debt reduction. “Over FY23-26E, the uptrend across JLR and India business will drive a payment CAGR of 12% Besides, better mix and cost control will bolster EBITDA CAGR to 30%, not to mention much more down “friction” from the reduction in net debt to equity to 0.3x in FY26E. The brokerage house held a Buy rating on Tata Motors with a target price of ₹840 per share. Here we have shared all the information about the news. Stay tuned to us for more updates.

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Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.