Tata Motors gains 39 percent in a month on a strong outlook
Published On: Monday, October 11, 2021 | By: Team KnowMyStock
Shares of Tata Motors hit an over three-year high of Rs 415.30 as they rallied 8.5 per cent on the BSE in Monday’s intra-day trade, continuing their journey northward on the back of a strong growth outlook for Jaguar Land Rover products.The Tata group subsidiary's scrip has rallied around 21% in the past five sessions, whereas in a month, it has risen about 39%. The company, however, warned that retail sales of Jaguar Land Rover for three-month ended September 2021 was constrained by the impact of the global semiconductor shortage.Tata Motors is in the advanced stages to raise $1 billion through the stock sale of its electric vehicle unit, the Times of India reported on Friday. "The global semiconductor supply issue represents a significant near-term challenge for the industry which will take time to work through.
ICICI Securities expects the auto major to post a healthy 20.9% revenue CAGR over FY21-23E backed by 17% volume CAGR. Cost control, efficiency improvement-led FCF generation targets for ongoing deleveraging push (FY21 net automotive debt at ~| 41,000 crore) could act as key triggers for future price performance, the brokerage added.
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