In Monday’s trading, auto major Tata Motors soared nearly 8%, making it the Nifty 50 index’s top gainer. On the National Stock Exchange, Tata Group shares were trading at 471 each at 9.59 a.m. today, with gains of 7.52%.
Tata Motor’s Moves
According to a statement released by Tata Motors, global wholesales of all Tata Motors commercial vehicles and the Tata Daewoo range, with a total of around 1,18,321 units between January and March. It represents an increase of 3% from the same period in FY22. This comes after the group’s global wholesales, which include Jaguar Land Rover, increased by 8%.
“A breakout of the classic symmetrical triangle format indicates that Tata Motors is coming out of an 18-month consolidation phase, which may signal the beginning of a new expansion phase. Even though the current level is still 30% higher than the pattern target, it is still around 620; As a result, investors ought to search for an opportunity to buy at this counter.”
“According to Santosh Meena, Head of Research at Swastika Investment Ltd., “With the downside, 440-425 would be a strong demand zone at any pullback.” On Friday, Tata Motors reported an 8% increase in global group wholesales, along with Jaguar Land Rover (JLR), at 3,61,361 units in the fourth quarter of FY23.
According to the report, deliveries of all passenger vehicles increased by 10% to 1,35,654 units in the fourth quarter of the previous fiscal year.
According to the company, JLR sold 1,07,386 vehicles worldwide in the March quarter, comprising 15,499 Jaguars and 91,887 Land Rovers.
