Tata Motors announced its q4 results on 10th May along with dividend. Check what rating and share price target is given by various brokerage firms for the auto maker.
Tata Motors on Friday reported over three-fold jump in consolidated net profit at Rs 17,528.59 crore in the fourth quarter ended March 31, 2024, riding with all its three auto businesses delivering a strong performance, specially the British arm Jaguar Land Rover.
The company had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing. Total consolidated revenue from operations stood at Rs 1,19,986.31 crore, as compared to Rs 1,05,932.35 crore in the year-ago period.
In Q4 FY24, Tata Motors said all three auto businesses delivered strong performance. The company’s British arm Jaguar Land Rover had “another record-breaking quarter in Q4 FY24. Revenue for the quarter was 7.9 billion pounds, up 11 per cent versus Q4 FY23”, Tata Motors said.
Tata Motors Share Price Target
Emkay Global said Tata Motors’ Q4 earnings were muted, with limited margin expansion across businesses, despite higher volumes. The brokerage firm retained ‘Reduce’ rating on the stock, and kept target price of Rs 950 per share.
Nuvama also retained ‘reduce’ rating with target price at Rs 940 (unchanged)
Morgan Stanley has downgraded the counter to ‘equalweight’ from the earlier ‘overweight’ call and increased the target price to Rs 1100 from Rs 1013.
Jefferies, continues with its ‘buy’ rating and has raised the target to Rs 1,250 from Rs 1,100 earlier.
Kotak Institutional Equities has given an ‘add’ rating to Tata Motors’ shares. The firm mentioned the CMP of Rs 1,030 in their report dated May 10, 2024, and fixed the fair value of Rs 950.
Tata Motors dividend
Tata Motors’s board recommended “a final dividend of Rs 3 per Ordinary Share and Rs 3.10 per A Ordinary Share and a special dividend of Rs 3 per Ordinary Share and Rs 3.10 per A Ordinary Share subject to approval by the shareholders”.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice.)
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