Tata Motors’ share price today reached a new all-time high of 702.80 per share on the NSE during morning trades.
Today’s stock market: While investors await the news of Tata Technologies’ IPO allotment status, Tata Motors shares saw buying activity from Dalal Street bulls during early trades. This aided Tata Motors’ shares in extending their surge and reaching a new all-time high of 702.80 per share on the NSE. While soaring to this new high, Tata Motors’ share price today managed to offer a YTD return of more than 75% to its positional investors. However, stock market analysts believe Tata Motors’ share price will rise to $945 per share.
According to stock market analysts, Tata Motors shares are rising for a variety of reasons, including increased sales of Jaguar and Range Rover. They stated that the market is anticipating a solid listing of Tata Technologies’ IPO, which is a 100% offer for sale (OFS). Tata Motors is likely to gain from this offer for sale because it is selling its interest in Tata Technologies’ IPO. Experts predict that increased sales of premium versions and a higher listing price for Tata Technologies’ IPO would help Tata Motors to generate solid quarterly results in the future quarters.
Why are Tata Motors’ shares so high?
Saurabh Jain, Vice President of Research at SMC Global Securities, highlighted the drivers driving Tata Motors shares, saying, “Tata Motors is expected to benefit from increased Jaguar and Range Rover sales.” Aside from that, the corporation managed to boost its margins in the recently published Q2 2023 numbers. Another reason is the IPO listing of Tata Technologies, since the market anticipates a good launch of this Tata group company’s shares on Friday, i.e. tomorrow.”
The IPO of Tata Technologies is in the spotlight.
According to Avinash Gorakshkar, Head of Research at Profitmart Securities, “Tata Technologies IPO is completely OFS and thus net proceeds of the public issue are expected to fuel the balance sheet of Tata Motors as the auto major is offloading its stake in Tata Technologies IPO.”
Because Tata Technologies’ IPO listing price is likely to be approximately an 80 to 85 percent premium, the market expects significant support for further improvement in the company’s margins and other fundamentals in the following quarters.”
Share price target for Tata Motors
Sumeet Bagadia, Executive Director at Choice Broking, commented on the prognosis for Tata Motors shares, saying, “Tata Motors share is currently trading at 700 apiece levels.” On the Weekly chart, there has been a recent significant breakout of range, followed by substantial volume. The monthly chart shows the emergence of a significant inverted head and shoulders pattern, indicating the possibility of good returns in both the short and long term, with price objectives of 800 and 945.
According to stock market analysts, Tata Motors shares are rising for a variety of reasons, including increased sales of Jaguar and Range Rover. They stated that the market is anticipating a solid listing of Tata Technologies’ IPO, which is a 100% offer for sale (OFS). Tata Motors is likely to gain from this offer for sale because it is selling its interest in Tata Technologies’ IPO. Experts predict that increased sales of premium versions and a higher listing price for Tata Technologies’ IPO would help Tata Motors to generate solid quarterly results in the future quarters.
