Is it Time to Buy Tata Motors Stock After Record Sales ?

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Is it Time to Buy Tata Motors Stock After Record Sales? Investing.com Stock Market News 2021-04-05 05:15 Is it Time to Buy Tata Motors Stock After Record Sales? Credit: © Reuters. By Aditya Raghunath Investing.com -- Tata Motors Ltd (NS:TAMO) posted record sales for March 2021 with its PV (passenger vehicle) sales selling 29,654 units in the month compared to 5,676 in March 2020. This was the highest ever sales in nine years. Its total domestic vehicle sales clocked in at 66,609 units compared to 11,012 units in March 2020. For Q4 2021, the PV segment posted sales of 83,857 units, up 162% since Q4 2020. Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors said, “In FY21 the business registered its highest ever annual sales in 8 years, while posting a growth of 69% versus FY20.” Analysts are divided over Tata Motors’ stock price. Two weeks back, Goldman Sachs Group Inc (NYSE:GS) had said Tata Motors could fall 20% and had downgraded its price target to Rs 241. In the first week of February, Maybank Kim Eng Securities, a Malaysian brokerage had said that the fair value of Tata Motors share was Rs 160. The stock was trading at Rs 319 then. Today, the stock is trading at Rs 302 at the time of this report. Domestic brokerage firm Motilal Oswal Financial Services Ltd (NS:MOFS) has given a target of Rs 395 to Tata Motor stock. Emkay Securities is also positive on the company and has given it a price target of Rs 375.

Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Tata Motors Ltd (NS:TAMO) posted record sales for March 2021 with its PV (passenger vehicle) sales selling 29,654 units in the month compared to 5,676 in March 2020. This was the highest ever sales in nine years. Its total domestic vehicle sales clocked in at 66,609 units compared to 11,012 units in March 2020.

For Q4 2021, the PV segment posted sales of 83,857 units, up 162% since Q4 2020. Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors said, “In FY21 the business registered its highest ever annual sales in 8 years, while posting a growth of 69% versus FY20.”

Analysts are divided over Tata Motors’ stock price. Two weeks back, Goldman Sachs Group Inc (NYSE:GS) had said Tata Motors could fall 20% and had downgraded its price target to Rs 241. In the first week of February, Maybank Kim Eng Securities, a Malaysian brokerage had said that the fair value of Tata Motors share was Rs 160. The stock was trading at Rs 319 then.

Today, the stock is trading at Rs 302 at the time of this report. Domestic brokerage firm Motilal Oswal Financial Services Ltd (NS:MOFS) has given a target of Rs 395 to Tata Motor stock. Emkay Securities is also positive on the company and has given it a price target of Rs 375.