02 September, 2014 00:06 IST
News
ICICIdirect upgrades Tata Motors to 'Buy'
Source: IRIS (24-DEC-12)
Comments  |  Post Comment

Stock broker ICICIdirect has upgraded Tata Motors (TML) to Buy with target price of Rs 360.

Commenting on the investment rationale, the broking firm said, "TML under the stewardship of Karl Slym has set the ball rolling for aggressive R&D in passenger vehicles in India. The company has plans to reverse the tide of low volumes, heavy discounting and declining market share by investing Rs 7.5 billion in the domestic passenger vehicle segment.

The focus on R&D is similar to the path JLR is following, which is of launching new path breaking products in the segment. The new products including a mini-SUV, diesel and CNG variants of the Nano will be launched starting from FY14E.

This period may also witness both Jaguar-Land Rover (JLR) and the domestic business performing together, as JLR has a significant product up-cycle starting from H1FY14E.

Tata Motors looks set to enter the purple patch of earnings with interest rate cycle reversal in India coupled with newer product launches complementing the global business of JLR.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.



Tata Motors Limited   (Q,N,C,F)*


News
Hero MotoCorp sales climb 21% in August'14 - 01-Sep-2014 18:06
Escorts Agri Machinery sales fall 7.3% in August'14 - 01-Sep-2014 17:00
Aditya Forge standalone quarterly net plummets 80.33% - 01-Sep-2014 16:54
Atul Auto sales rise 6.2% in August '14 - 01-Sep-2014 16:03
SBI signs export credit line pact with JBIC - 01-Sep-2014 15:59
TVS Motor August sales grows by 46% - 01-Sep-2014 15:58
Mahindra reports 6% growth in August tractor sales - 01-Sep-2014 15:54
Indusind Bank allots shares under ESOS - 01-Sep-2014 15:52
M&M auto sales down 7.2% in August - 01-Sep-2014 15:48
Ruchi Infra to acquire oil refining buzz for Rs 440 mn - 01-Sep-2014 15:42
Om Metals Infraprojects bags order worth Rs 2.3 bn - 01-Sep-2014 15:36
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   2jyvqt into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer