Tata Motors Hits Record High After Strong Q3 Performance

1. Tata Motors Soars on NSE:

 Tata Motors emerges as Nifty50's top gainer, surging 8.05% to an all-time high of Rs 949.6.

2. Record Q3 FY24 Performance:

Strong financials reported for October-December, with a consolidated net profit of Rs 7,025.1 crore.

3. Robust Revenue Growth:

Tata Motors' revenue reaches Rs 1,09,799.2 crore, marking a YoY growth of 25%.

4. Segment-wise Revenue Surge:

Commercial vehicles and passenger vehicles segments witness revenue growth of 19.2% and 10.6%, respectively.

5. EBITDA Growth:

 Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) shows a significant 60.6% growth to Rs 15,800 crore.

6. JLR Revenue Increase:

Jaguar Land Rover (JLR) revenue rises by 22% to 7.4 billion pounds, contributing to Tata Motors' overall growth.

7. Brokerages' Positive Ratings:

Jefferies, CLSA, JP Morgan, and others maintain bullish outlooks, with buy ratings and increased target prices.

8. Jefferies' Bullish Stance:

 Jefferies raises target to Rs 1,100, citing a 59% YoY EBITDA growth and an optimistic outlook for Q4.

9. Nomura and Goldman Sachs Affirm Buy:

Both Nomura and Goldman Sachs continue buy recommendations, foreseeing further improvement in JLR margins.

10. HSBC Holds with Target Increase:

HSBC maintains a hold call but raises the target to Rs 920, citing strong near-term outlook and improved estimates.