Tata Motors Share Price 31 December 2023: ๐๐
Tata Motors, one of the leading companies in the Indian share market, has witnessed significant growth this year. In 2023, the share price has surged by 20% in the market, surpassing the 13% growth seen in the American share market. Among the Nifty 50 stocks, Tata Motors stands out as the only stock that has delivered double returns for investors, earning bullish recommendations from brokers.
Reaching New Heights: ๐
Tata Motors’ share price has reached new heights, doubling in value within a year. It is the only stock in the Nifty index that is expected to double in 2023. In the last trading session of the year, Tata Motors’ shares made history by crossing the market cap of โน2.50 lakh crore. When combined with Tata Motors DVR, the market cap is close to โน3 lakh crore.
Impressive Performance: ๐ช
On Friday’s trading session, Tata Motors’ share price reached a new high of โน802.62. In January 2023, it was valued at โน390. This means that the stock has provided a whopping 103% return during the year. Despite the upward trend, there is still a trend of buying for the long term.
Strong Growth in 2023: ๐
2023 has been a remarkable year for Tata Motors. The company, part of the Tata Group, has consistently presented strong quarterly results, benefiting from the increasing order book of JLR. Interestingly, JLR is ready to keep its cash reserve intact until the fiscal year 2025. Tata Motors continues to increase its market share.
Brokerage Recommendations: ๐ผ
Brokerages remain positive on Tata Motors’ shares, with 28 out of 35 experts giving a “buy” rating, while three recommend “hold.” The brokerage firms have set a target of โน840 per share, suggesting further buying opportunities. According to market experts, JLR’s financial performance is expected to improve in the remaining period of the fiscal year, reducing debt and improving EBITDA margins in passenger vehicles.
Tata Motors has undoubtedly been one of the most exciting stocks to watch in the Indian share market this year. With its consistent growth and positive market sentiment, it will be interesting to see how Tata Motors performs in the coming years. ๐
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
