Having seen weak sentiments thus making their shares to delve below the ₹1000 mark as shown below.
Tata Motors Ltd shares at weak levels, slid below ₹1,000 for the first time in Wednesday trade, down 5. 74% at ₹976. It is already 17. 22% away from July 2024 peak. Slightly over 10 lakh shares were exchanged in the BSE which is twice the average trading. However, the world’s largest brokerage firm UBS retained its ‘Sell’ recommendation for Tata Motors with a new year-end price target of ₹825 avid about Jaguar Land Rover backlog and minors FY26 Operational and Financial Performance.
Manoj Bathini of WealthMills Securities advised that the stock should be held for long-term investors since short-term margin pressure has arisen due to increasing inventories. Osho Krishan of Angel One said that ₹960-980 is a strongly bullish channel, ₹1,010-1,030 are acting as a resistance region. Shares to buy as Religare maintains ‘buy’ on Tata Motors; tgt of ₹1000); Ravi Singh from Religare Brosengers; € headwrx: buy on dips for ₹920.
As such, Markit’s point of view points at ₹976 as key support with more to the downside conceivable. Hyundai Motors is set to go public soon and that will increase competition in India which Tata Motors continues to dominate in the EV market.
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