Tata Motors Ltd

June 25, 2018 . Equities Desk

Tata Motors (TAMO) is India’s largest CV manufacturer with 45% market share in M&HCV segment. With the acquisition of Jaguar Land Rover (JLR) in 2008, TAMO now has presence in the global luxury car market.

Valuation: We expect TAMO’s performance to improve going forward driven by strong demand and profitability outlook for standalone business and decline in hedge losses & production commencement at low cost Slovakia plant for JLR. Hence, we continue to maintain BUY rating on the stock with revised SOTP based target price of Rs. 359.

Research-Report – Tata Motors

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