Tata Motors share price: Sharekhan says BUY, pegs price target at Rs 430
Sharekhan has put a Buy rating on Tata Motors with a revised price target of Rs 430, factoring in an improvement in operational performance across businesses, a positive outlook for JLR and domestic businesses, and robust FCF generation, leading to significant fall in debt. Tata Motors beat expectations in Q4FY21, which was driven by strong all round operational performance, with overall adjusted PAT growing 72.5% qoq, driven by 17% revenue growth and 11% EBITDA growth
Consolidated revenue grew by 41.8% yoy, driven by a 44% yoy in JLR volumes and a 90% growth in domestic volumes (of CVs and PVs): Reuters