Emkay Global gives Tata Motors a buy, sets ₹550 target
Business
Thinking about investing? Emkay Global just gave Tata Motors a thumbs up, recommending a Buy and setting a ₹550 target price.
They like the company's strong financial growth and smart business moves, though they did tweak their future profit estimates because of rising costs.
Tata Motors commercial-vehicle revenue up 42%
Tata Motors's commercial-vehicle division had a huge 42% jump in revenue last quarter, thanks to more vehicles sold.
Even with slightly lower average prices (more exports), profits stayed solid due to earlier price hikes and cost-saving efforts.
Looking ahead, sales are expected to stay strong during the festive season, but high commodity prices could squeeze margins a bit; still, analysts feel Tata Motors is well-placed to handle these bumps.