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Business News/ Markets / Stock Markets/  Rakesh Jhunjhunwala portfolio: Experts bullish on this Tata stock. Do you own?
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Rakesh Jhunjhunwala portfolio: Experts bullish on this Tata stock. Do you own?

Rakesh Jhunjhunwala portfolio: Tata Motors may perform well in both the Indian and global markets, say experts

Rakesh Jhunjhunwala portfolio: Nifty Auto has been up 16 per cent since March 2022 but Tata Motors is down 1.5 per cent in this period (Reuters)Premium
Rakesh Jhunjhunwala portfolio: Nifty Auto has been up 16 per cent since March 2022 but Tata Motors is down 1.5 per cent in this period (Reuters)

Rakesh Jhunjhunwala portfolio: Expecting Tata Motors to perform well in the domestic and international market, stock market experts have remained bullish on this auto stock after ushering in FY23. Their faith get further boost after the carmaker registered its highest-ever monthly sales in June 2022 with 45,197 units of passenger vehicles sale. They are of the opinion that this Rakesh Jhunjhunwala stock is available at discounted price today as Tata Motors shares are down 1.50 per cent since March whereas Nifty Auto index is up 16 per cent in this period. Experts believe that Tata Motors may report better earnings in second half of the year 2022.

Tata Motors shares: What fundamentals suggest?

Speaking on the reasons for being bullish on Tata Motors shares, Sonam Srivastava, Founder at Wright Research — a SEBI registered investment advisor company said, "Tata Motors, which had significantly outperformed the Nifty Auto Index in the last year, has been lagging in the previous three months. While Nifty Auto has been up 16 per cent since March, Tata Motors is down1.5 per cent in this period. Tata Motors expects the second half of the current fiscal year to improve with the gradual improvement in the overall supply situation and stabilization in commodity prices per chairman N. Chandrasekaran. The rationale is that the semiconductor shortage would ease in the second half, and commodity inflation will calm down to boost the stock."

Highlighting the strong fundamentals that may fuel Tata Motors share price, Punit Patni, Equity Research Analyst at Swastika Investmart said, "Tata Motors Ltd. is one of the biggest beneficiaries of the ICE to EV transition because of its first-mover advantage and synergistic benefits from other group companies. The company has witnessed a complete makeover post the change in management and has seen market share gains due to its phenomenal product offerings. The company has been able to capitalize on the trend of rising preference and awareness of customers towards safety and build quality; the new offerings have received rave reviews, especially in this aspect. Another point to note is that the easing down of semiconductor shortage augurs well for the JLR and EV segment."

The stock market expert of Swastika Investmart went on to add that Tata Motors is poised to perform well in both the Indian and global markets and the company’s free cash flows will help the company to achieve its deleveraging targets.

Tata Motors June 2022 sale

"The June 2022 numbers have been very positive and the carmaker registered its highest-ever monthly sales last month with 45,197 units of passenger vehicles sold. Thus, we remain positive about the company for the long-term time horizon,," Punit Patni said.

Tata Motors share price target

Speaking on Tata Motors share price target for short term, Anuj Gupta, Vice President at IIFL Securities said, "Tata Motors shares are in uptrend on chart pattern. It has strong support at 380 apiece levels whereas it is facing hurdle at 460 per share levels. Once it breaks this upper hurdle, there can some sharp upside swing in this Tata group stock."

Rakesh Jhunjhunwala shareholding in Tata Motors

According to Tata Motors shareholding pattern for January to March 2022 quarter, Big Bull Rakesh Jhunjhunwala owns 3,92,50,000 shares or 1.18 per cent stake in the company.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 06 Jul 2022, 08:32 AM IST
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