Technical analyst Alpesh Furiya is bullish on Tata Motors Limited and has maintained 'buy' rating on the stock with a target of Rs 1400.
The analyst said that the stock of the company can be purchased with a stop loss of Rs 1250.
The stock of the company, on April 05, closed at Rs 1279.85 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1381.40 and a low of Rs 684.20 on BSE.
Current EPS & P/E ratio stood at 44.34 and 29.09 respectively.
Placing all conjecture to rest, Tata Motors has lastly acquired the lease for Singur land renewed for one more year.
Sources near to the development stated that the company had paid the necessitated `1 crore to the West Bengal Industrial Development Corporation (WBIDC) on April 04 to renew the lease contract.
During the last month (March 2011), Tata Motors registered total sales (including exports) of 83,363 units of commercial and passenger vehicles.
The above figured showcased a growth of 11% as against the same period of 2010 when the company sold 75,129 units.
The domestic sales of the company's commercial and passenger vehicles remained at 77,431 units for March.
The cumulative sales (comprising exports) for Tata Motors stood at 803,322 units, which showed a growth of 25% over last year.
In addition, the resumption in Nano sales during the last four months has encouraged the company to increase the production of the world's cheapest car by two folds.
The company plans to increase the production of the car to 20,000 units a month this fiscal.
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