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Tata Motors Share Price Soars After Q3 Results

Tata Motors share price surged over 7% hitting a 52-week high after strong Q3 FY24 results. Q3 revenue increased by 24.9% to ₹110,577 crore, with significant growth in Jaguar Land Rover (JLR) sales.

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Consolidated net profit for Tata Motors in Q3 soared 137.5% to ₹7,025 crore, year-over-year. EBITDA rose by 42.5% to ₹15,333 crore, with an EBITDA margin expansion of 171 basis points to 13.94%.

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Jefferies raised FY24-26 EPS estimates for Tata Motors by 7-11%, maintaining a 'Buy' rating. Nomura expects Tata Motors' electric vehicles (EVs) success to potentially drive further re-rating.

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Kotak Institutional Equities upgraded Tata Motors to 'Add' with a target price of ₹950 per share. Kotak Institutional Equities upgraded Tata Motors to 'Add' with a target price of ₹950 per share. Tata Motors stock has seen over 110% growth in one year, doubling investors' money.

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