Tata Motors Share Price 🚀
Tata Motors, a part of the Tata Group, is witnessing a strong surge in its share price. In Monday’s trading session, the company’s shares also showed a robust upward trend. During yesterday’s trading session, the company’s shares were trading at ₹949.60 with a growth rate of 8%.
The main reason behind the increase in the company’s shares is the announcement of strong results for the December 2023 quarter. On Tuesday, 6th February 2024, Tata Motors’ shares increased by 0.94% and were trading at ₹935.55. Brokering firm Nomura has given a positive response to Tata Motors’ shares. According to the experts at the brokerage house, the company’s shares can touch the mark of ₹1,057 in the coming days.
Global brokerage firm Jefferies has announced a ‘Buy’ rating on Tata Motors’ shares. According to Jefferies’ experts, the company’s shares can reach ₹1,100. However, on Wednesday, 7th February 2024, the shares experienced a decline of 0.73% and were trading at ₹933.
Tata Motors has reported a net profit of ₹7,100 crores for the December 2023 quarter in the current financial year, showing a growth rate of 133.32% compared to the same quarter of the previous year. In the same quarter of the previous financial year, Tata Motors had earned a net profit of ₹3,043 crores. The company stated that it has achieved a revenue of ₹1,10,600 crores in the December 2023 quarter, which is 25% higher than the same quarter of the previous year.
Tata Motors is positive about the performance of all its auto businesses. The company expects positive performance in the coming quarter, thanks to new models and improved performance of Jaguar Land Rover. In the December quarter, the company has reduced its net debt by ₹9,500 crores. The company’s officials are confident that they will soon achieve their target of reducing debt.
So, with the strong results and positive outlook, Tata Motors’ share price continues to soar. Investors and analysts are optimistic about the future prospects of the company. 📈🚘💰
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