Tata Motor shares skid 9% despite robust Q4; here's why
Tata Motors shares see sharp selling as brokerages cut target prices post Q4.
Tata Motors shares see sharp selling as brokerages cut target prices post Q4.
Post Q4, JM Financial has maintained a ‘Buy’ call on Tata Power shares with an upgraded target price of ₹490 per share from ₹440 earlier.
The Tata Group company reported profit growth for the 18th consecutive quarter to ₹1,046 crore for Q4 FY24, up 11% YoY.
Tata Group attempts mergers and demergers in companies to bring sharper focus on businesses.
Motilal Oswal sees an upside potential of 12% in IHCL and reiterates a ‘Buy’ rating on the stock post Q4, with a target price of ₹680.
The sell-off in these Tata Group stocks was triggered after they released their fourth quarter earnings report post-market hours on April 23.
The Tata Group stock has fallen over 7% in two days as brokerages see limited upside potential in the stock after its weak Q4 earnings report.
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Both Tata Technologies and the BMW Group will equally hold 50% stakes in the joint venture (JV) company.