Tata Motors triples money in just 1 year, says brokerage firm ICICI Direct

New Delhi: Tata Motors Company shares, which are part of stock market veteran Rakesh Jhunjhunwala's portfolio, has provided investors with enormous returns. Titan stock has returned more than 200 percent in the last year. When it comes to Tata Motors, brokerage house ICICI Direct has set a target price of Rs 450 for the next 12 months.

Tata Motors: 204% return in one year

One of the finest stocks has been Tata Motors. This stock has returned more than 200 percent to investors over the last year. At the same time, there has been a more than 120 percent gain so far this year. The stock was trading at Rs 413 on October 11th. Rakesh Jhunjhunwala owns 3.77 crore Tata Motors shares. Jhunjhunwala owns 1.1 percent of the firm, which has a market capitalisation of Rs 1,555.3 crore as of October 11. Jhunjhunwala's favourite stock is Tata Motors, which has been in his portfolio for a long time.

In its report, brokerage firm ICICI Direct stated that the company's volume in India is increasing. Electric vehicles are the company's main focus. The company's portfolio will be strengthened even further as a result of this. The brokerage firm has recommended a Buy (BUY) recommendation with a target price of Rs 450 per share. This is the aim set by the brokerage firm for the following 12 months.

Financial Performance

Tata Motors' consolidated deficit decreased in the second quarter of 2021. The company's net loss for the quarter ended June 30 was Rs 4,450.92 crore, compared to Rs 8,437.99 crore a year earlier. The company's overall sales climbed to Rs 66,406.05 crore. This is up 107.6 percent from the same quarter last year.