Tata Motors emerges as Nifty50's top gainer, surging 8.05% to an all-time high of Rs 949.6.
Strong financials reported for October-December, with a consolidated net profit of Rs 7,025.1 crore.
Tata Motors' revenue reaches Rs 1,09,799.2 crore, marking a YoY growth of 25%.
Commercial vehicles and passenger vehicles segments witness revenue growth of 19.2% and 10.6%, respectively.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) shows a significant 60.6% growth to Rs 15,800 crore.
Jaguar Land Rover (JLR) revenue rises by 22% to 7.4 billion pounds, contributing to Tata Motors' overall growth.
Jefferies, CLSA, JP Morgan, and others maintain bullish outlooks, with buy ratings and increased target prices.
Jefferies raises target to Rs 1,100, citing a 59% YoY EBITDA growth and an optimistic outlook for Q4.
Both Nomura and Goldman Sachs continue buy recommendations, foreseeing further improvement in JLR margins.
HSBC maintains a hold call but raises the target to Rs 920, citing strong near-term outlook and improved estimates.