1:5 Split: Multibagger Tata Auto Giant Rises 3% On Latest Update, Add For TP Rs 1100: Analysts

Tata Group company Tata Motors Ltd share witnessed rally of 3.00% on BSE to settle at 950.50 per share on June 3. Tata Motors Limited on June 1 declared sales in the domestic & international market for May 2024 stood at 76,766 vehicles, compared to 74,973 units during May 2023. Tata Motors shares jumped 120% in last 1-year. The company on May 10, 2024, declared a rally of 46% in net profit for the quarter ended March 2024 to Rs 17,529 crore as compared to Rs 12,033 crore announced in the corresponding quarter of last year. Tata Motors declared a final dividend of Rs 6/share.

If the dividend is declared at the company's upcoming AGM, it will be paid to eligible shareholders on or before June 28, 2024. It is worth noting that Life Insurance Corporation Of India (LIC) has 3.01% stake in Tata Motors with 100,181,023 shares of the company. More details below:

Tata Motors Gives Update On Monthly Sales For May 2024: The company declared a jump of 2% year-on-year (YoY) in its total CV sales at 29,691 units and a surge of 2% again in its total PV sales at 47,075 units. Meanwhile, domestic sale of MH&ICV in May 2024, including trucks and buses, stood at 12,987 units, compared to 11,776 units in May 2023. Total sales for MH&ICV Domestic & International Business in May 2024, including trucks and buses, stood at 13,532 units compared to 12,292 units in May 2023. More details below:

Tata Motors Share Performance: The 52-week high price of Tata Motors shares on BSE is Rs 1065.60 per share (as on 05/03/2024) and 52-week low price is Rs 532.80 per share (as on 02/06/2023). Tata Motors shares witnessed decline of over 6% in last 1-month, soared 35% in last 6-months, and offered attractive return of 77% in last 1-year. In last 3-years, Tata Motors shares zoomed 192% and 445% in last 5-years.

Tata Motors Technical: Score is 52.8 highlighting it is technically moderately strong. RSI of Tata Motors is 46.0. RSI below 30 is considered oversold and above 70 overbought. Number of FII/FPI investors increased from 1058 to 1146 in Mar 2024 qtr. Mutual Funds have decreased holdings from 10.37% to 9.50% in Mar 2024 quarter. Number of MF schemes decreased from 43 to 42 in Mar 2024 quarter. FII/FPI have increased holdings from 18.62% to 19.20% in March 2024 quarter. Number of FII/FPI investors increased from 1058 to 1146 in March 2024 quarter.

Tata Motors Dividend History: Tata Motors has already declared 18 dividends since July 3, 2002. In last 12 months, the auto giant declared an equity dividend amounting to Rs 2.00 per share. At the current share price of Rs 950.50 per share, Tata Motors share offers a dividend yield of 0.21%.

Tata Motors Stock Split History: Tata Motors split the face value of its shares once since September 12, 2011. Tata Motors last split the face value of its shares from Rs 10 to Rs 2 in 2011.The share traded ex-split from September 12, 2011, according to Trendlyne.

Should You Buy Tata Motors Share? Two leading brokerages have issued add & neutral call on Tata Motors share. Nomura has issued neutral call on the Tata Motors stock with a target price of Rs 1,141. Meanwhile, Kotak Institutional Equities in its May 31 report assigned add call to Tata Motors shares. The analyst is bullish on Tata Motors stock and recommended add with a target price of Rs 1,100 apiece.

Disclaimer: The stock has been picked from the brokerage report of Nomura and Kotak Institutional Equities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.