Tata Group Stocks: Brokerage firm Credit Suisse is quite bullish on Tata Group’s favorite stocks included in Rakesh Jhunjhunwala’s portfolio.
Ratings on Tata Motors intact
Credit Suisse maintains its neutral rating on Tata Motors stocks. The outlook is strong and the feeling is in favor of the company. This is why the brokerage firm is also looking at it as bullish. The brokerage house has suggested buying the stock with a target price of Rs 492 from the current price.
Why look at Tata Motors?
The boards of Tata Motors Finance and Tata Motors Finance Solutions (TMFSL), the internal financiers of Tata Motors Vehicles, have approved the sale of their debt assets and receivables up to Rs 12,000 crore and Rs 2,500 crore. As a result of this decision, both the vehicles of Tata Motors will be financially sound.
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Increase sales
Tata Motors had internal sales of 73,875 units in February 2022. Sales grew 27 percent year-on-year. As of February 2021, the company had sold 58,366 units. At the same time, sales of passenger vehicles in the domestic market also increased by 47 percent and stood at 39,981 units as compared to 27,225 units in February 2022.
Company commentary
Recently, the company announced that by 2025, it has set a goal to electrify the entire JLR portfolio. In the next 5 years, 8 electric variants of Land Rover will be launched. Tata Motors will directly benefit from this. This is why many brokerage firms are bullish on stocks. Recently, Motilal Oswal also offered to buy the stock. Motilal Oswal has given ‘BUY’ (BUY on Tata Motors) rating to Tata Motors with a target price of Rs.600.
