Tata Motors shares touch new 52-week high on Friday's session ahead of Q4FY23 results; check details
Tata Motors Q4 results: Brokerage estimates on average predict the company will report a net profit of between ₹3,100 and ₹3,200 crore.
PremiumTata Motors shares touched new 52-week high ahead of its Q4FY23 results on Friday. The company is anticipated to release positive financial results for the three months ended in March, driven by margin expansion across divisions, robust India, and tracking a rebound in wholesale volumes at Jaguar Land Rover (JLR). Tata Motors shares opened at ₹513.90 apiece on NSE, and gained over 1%.
The stock records fresh 52-week high for the fifth straight session today.
The stock has given multi month breakout this week and has been an outperformer as it's up more than 7%. According to Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One, traders should maintain positive bias and consider dips as a buying opportunity 495 - 490 is a buying zone and possible the stock can extend towards 600 in coming weeks.
At 09:33 IST, shares of the company were up 0.4% at ₹513.40 apiece on NSE. Tata Motors' stock has been one of the Nifty 50's best performers this year, gaining about 30% compared to the benchmark's 0.55% rise.
Brokerage estimates on average predict the company will report a net profit of between ₹3,100 and ₹3,200 crore.
In the fourth quarter, Tata Motors recorded volume growth of 3%, driven mostly by the passenger vehicles (PV) market. JLR volumes increased by 24% during the same period as chip supply continued to improve and new models gained popularity.
The auto major headquartered in Mumbai reported a loss of ₹1,032 crore in the same quarter last year.
“Tata Motors is expected to report a healthy performance in Q4FY23 primarily tracking a recovery in wholesale volumes at JLR. On a consolidated basis, for Q4FY23, we expect it to report net sales of ₹1.06 lakh crore, up 20% QoQ. EBITDA in Q4FY23 is expected at ₹13,664 crore with corresponding EBITDA margins at 12.9%. JLR’s EBITDA margins are expected at 13.5% in Q4FY23. At the PAT level, we expect the company to report profit of ₹2,269 crore in Q4FY23," said ICICI Direct Research in its report.
Further, today, the automaker is likely to announce a dividend along with its Q4 results After two years of losses, the company would distribute a dividend for the first time since 2016 as it generated a profit in the December quarter.
At 10:19 IST, the shares of the company were up 1.4% at ₹518.95 apiece.
Tata Motors likely to announce dividend along with its Q4 results
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