Tata Motors Share Price may remain bearish till Rs 907, big bullish rally may come from Rs 746
Tata Motors has been in the spotlight today, September 12, 2024, as its share price reflects significant movements in the stock market. Currently, the share price stands at ₹1,038.70, down 1.02% from the previous close of ₹1,049.35. The stock has seen a fluctuation between a high of ₹1,085.85 and a low of ₹1,066.95 today, indicating a volatile trading session.
Main Points
As of today, Tata Motors’ market capitalization is approximately ₹345,261 crore, with a Price to Earnings (P/E) ratio of 10.23. The company’s earnings per share (EPS) stands at ₹101.57, showcasing a strong performance compared to its sector. However, the stock has experienced a decline of 9.74% in its quarterly revenue, marking the lowest in three years.
- Current Share Price: ₹1,038.70
- Previous Close: ₹1,049.35
- Market Capitalization: ₹345,261 crore
- P/E Ratio: 10.23
- EPS: ₹101.57
- 52-Week High/Low: ₹1,179.00 / ₹608.30
These figures reflect the current state of Tata Motors in the market, highlighting both its potential and challenges.
Several recent developments have influenced Tata Motors’ stock performance:
- Revenue Decline: The company reported a quarterly revenue decline of 9.74%. This drop is significant as it marks the lowest revenue performance in three years, raising concerns among investors about the company’s growth trajectory.
- Stock Volatility: The stock has shown substantial volatility, with a recent stochastic crossover signal indicating a potential downward trend. Historically, this signal has led to an average price decline of 7.89% within seven weeks in the past decade.
- Market Sentiment: Analysts are divided on Tata Motors’ future. While some suggest it is a good time to accumulate shares, others predict continued weak quarters, particularly in the commercial vehicle segment.
- Technical Analysis: The stock’s technical indicators suggest caution. With a current open interest in futures trading, investors are closely monitoring the stock for potential rebounds or further declines.
- Industry Outlook: The broader market sentiment appears to be shifting towards defensive plays, which may impact Tata Motors as it navigates through these changes.
Market analysts are closely watching Tata Motors as it approaches critical support and resistance levels. Some experts believe that the stock could rebound if it manages to hold above the ₹1,000 mark. Others, however, warn that the company may face challenges in the coming quarters due to the declining revenue trend and increased competition in the electric vehicle market.
- Accumulate: Some analysts recommend accumulating shares with a target price of ₹1,156, suggesting that the stock may recover as market conditions stabilize.
- Caution Advised: Others advise caution, especially for investors looking for short-term gains, given the recent volatility and revenue decline.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
