Rakesh Jhunjhunwala has recently changes his stake in 12 portfolio stocks but he continued with his conviction in rest of the stocks that includes Tata Motors shares. Irrespective of the bearish perspective in the auto sector the ‘Warren Buffett of India’ remained invested in the auto stock with his same 1.29 per cent stake in the Tata Group Company. Like Rakesh Jhunjhunwala holdings in Tata Motors, market experts too have expected some bullish trend in this auto stock in immediate short-term to medium-term time-horizon. They gave ‘buy’ tag to Tata Motors stocks irrespective of the rising fresh Covid-19 cases in India.
Speaking on the Tata Motors share price outlook Ravi Singhal, Vice Chairman at GCL Securities said, “Tata Motors share price has already discounted at a discounted levels due to the rising Covid-19 cases in India. It is a big Tata Group auto sector company with strong fundamentals. So, once the Covid pressure eases, it would be one of the fast upside moving stocks at the Indian indices. But, one should wait for some more consolidation in the counter. Currently it has closing at around ₹301 at the NSE. I would advise investors to buy Tata Motors at around ₹280 levels for the target of ₹340 and 370 in medium-term or from three to six month time-horizon.”
Suggesting investors to buy Tata Motors for short-term time-frame Mudit Goel, Senior Research Analyst at SMC said, “One can buy Tata Motors at current market price for the target of ₹332 maintaining strict stop loss at ₹287.”
Tata Motors share price at NSE on Friday closed at ₹301.45 per stock levels.
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