Tata Motors Ltd shares traded flat in early deals on Wednesday, despite global brokerage Macquarie maintaining an ‘Outperform’ rating on the stock. Macquarie has included Tata Motors in its list of ‘tactically preferred stocks’ in India.
The brokerage has set a price target of ₹826, suggesting a potential upside of 21.7% from the current market price (CMP). It sees a favorable risk-reward ratio following the stock’s recent correction.
Over the past six months, Tata Motors’ stock has declined by 30% and is down 9% year-to-date.
Macquarie highlighted that Jaguar Land Rover’s (JLR) peers anticipate strong demand in the US, while the management remains confident about achieving a net cash balance sheet for JLR by March 2025. However, the outlook for China remains uncertain.
As of early Wednesday trading, Tata Motors’ shares were up 0.29% at ₹681.75, with a market capitalization of ₹2.50 lakh crore. The stock’s one-year beta stands at 1.2, indicating high volatility.
Tata Motors hit a 52-week low of ₹606.20 on March 3, 2025, and a 52-week high of ₹1,179.05 on July 30, 2024. The stock has delivered negative returns, losing 30% over six months and 29% over the past year.
