🚗 Tata Motors Share Price Soars After Debt-Free Announcement 📈
India’s oldest and leading industrial house, Tata Motors, announced that it has become debt-free, leading to a surge in the share market during trading. Brokerage firms are also bullish on Tata Group’s auto maker, Tata Motors.
After announcing the debt-free status on Wednesday, Tata Motors’ shares saw a significant jump during intraday trading, crossing the ₹1,000 mark and closing at ₹989.20 by the end of the day.
Multi-bagger stock Tata Motors has given investors a remarkable return of 1,450% in the past four years, with brokerage firms like Jefferies and JM Financial recommending investment in Tata Motors’ shares.
Investors in Tata Motors’ shares have become multi-baggers, earning over 1,450% return in just four years. If they had invested ₹1 lakh in Tata stock during this period and held onto it, their investment would now be worth ₹15 lakh.
Global brokerage firm Jefferies has given Tata Motors a buy rating and set a target price of ₹1,250 for the shares. Jefferies noted that Tata Motors is focused on strengthening its franchise once again. The company is currently focusing on managed passenger vehicles and commercial segments.
Meanwhile, Morgan Stanley has rated Tata Motors’ shares as ‘equal-weight’ and estimated that the share price could rise to ₹1,150.
Brokerages have stated that all businesses can now operate independently, so the firm could take steps to further strengthen itself in the direction of demerger. Similarly, JM Financial has also given Tata Motors’ shares a buy rating and set a target price of ₹1,200.
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