Tata Motors: This portfolio stock of Rakesh Jhunjhunwala fell 20% from the high, the fall will increase further! have you bought?

The brokerage says that the way the commodity prices have increased, its impact can be seen on the financial performance of Tata Motors.

Tata Group Stock: The shares of Tata Motors have seen pressure for most of the trading days of this year. This giant share of Tata Group has weakened by about 20 percent from its record high. There is a decline in the stock even today and it has fallen 2 percent to Rs 428. The latest report by brokerage house CLSA has given a sell-off opinion in Tata Motors. Also, the target price has been reduced to Rs 392. However, in the recent report of some domestic brokerage houses, the stock is expected to rise. Let us tell you that Tata Motors is included in the portfolio of market veteran Rakesh Jhunjhunwala.

How much can the stock fall

Brokerage house CLSA has given ‘sell’ rating on Tata Motors. A target of Rs 392 has been kept for the stock, which is 10 percent less than the current price. Wearing brokerage’s target was Rs 408. The brokerage house says that the volume estimates of JLR for FY22-24 are expected to decline by 4-7 per cent. However, the brokerage has raised the volume estimates in the domestic business by 8-18 per cent. The brokerage says that the way the commodity prices have increased, its effect can be seen on the financial performance of the company. The brokerage has reduced the target for the stock due to lower value in JLR trading.

domestic brokerage trust

In its recent report, brokerage house ICICI Securities has given a target of Rs 550 while giving a buying opinion in Tata Motors. At the same time, brokerage house Emkay Global has also advised investment on the stock with a target of Rs 575 in its recent report for the month of March. The company is continuously increasing the focus in the case of electric vehicles. The company will also get the benefit of having the highest market share in EVs. The company’s total income in the December quarter increased by 17 percent on a quarterly basis to Rs 72931.86 crore. Whereas the income has been lower by 4.50 percent on an annual basis.

Rakesh Jhunjhunwala holds 1.2% stake

Market leader Rakesh Jhunjhunwala owns Tata Motors Ltd. has a 1.2% stake. The company has a total of 39,250,000 shares in his portfolio. In the December quarter, he had raised 0.1 per cent stake in the company. He held 1.1 per cent stake in the company in the September and June quarters.

(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)