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Tata Motors surges over 7% on Monday's trade

Shares of Tata Motors surged over 7% on Monday's trade after the company reported an 8% increase in group global wholesales in Jan-Mar (Q4FY23) on Friday.

Global wholesales of all Tata Motors commercial vehicles including the Tata Daewoo brand were 1,18,321 nos., down 3% from the fourth quarter of FY22.

Global wholesales of Tata Motors was at 1,35,654 nos., a 10% increase over Q4 FY22.

Global wholesales of Jaguar Land Rover were 1,07,386 vehicles, with Jaguar wholesales for the quarter at 15,499 vehicles, and Land Rover wholesales at 91,887 vehicles.

Tata Motors was trading near its 52-week high recorded on August 17, 2022.


Global brokerage Goldman Sachs upgraded the stock from 'neutral' to 'buy', and raised its 12-month target price from rupees 480 to rupees 550.


JLR anticipates fourth-quarter free cash flow of over 800 million pounds (about 1 billion dollar), helped by a 24% increase in wholesale volumes.

At 10:23 IST, the shares of the company hit an intraday high of rupees 473.10 and low of rupees 450.05.


According to Mintgenie poll, 32 analysts recommend 'strong buy' for the stock.

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Tata Motors surges over 7% on Monday's trade; Find out why!

The stock was trading near its 52-week high recorded on August 17, 2022. Global brokerage Goldman Sachs upgraded the Tata Motors from 'neutral' to 'buy', which further added to the positive sentiment for the stock.

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Tata Motors surges over 7% on Monday's trade; Find out why!

The stock was trading near its 52-week high recorded on August 17, 2022. Global brokerage Goldman Sachs upgraded the Tata Motors from 'neutral' to 'buy', which further added to the positive sentiment for the stock.

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