Tata Motors Short Term Buy Call
Technical analyst Imtiaz Qureishi has maintained 'buy' rating on Tata Motors Limited with a short-term target of Rs 1420.
Mr. Qureishi said that the interested investors can buy the stock with a stop loss of Rs 1310
Today, the stock of the company opened at Rs 1354on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1381.40 and a low of Rs 668.70 on BSE.
Current EPS & P/E ratio stood at 44.89 and 29.55 respectively.
With Nano fabrication recording a fresh low last month, functionaries of the country's biggest vehicle manufacturer will meet up component providers of the world's cheapest car tomorrow to brief them of the demand condition and provide them new supply projections for the coming period.
Dispatches of the small car to the company's dealers dropped to 509 units during the last month as against 3,065 units during October this year.
Production of Nano, however, has since been heightened back to the October levels to 175 units daily at the moment.
Tata Motors anticipated sales of 20,000-25,000 Nanos on a monthly basis by March next year.
During the last month, Tata Motors registered 1% surge in its sales, which stood at 54,622 units sold as against 54,108 units sold in the same period of 2009.
Tata's Nano's sales in November dropped 85% to 509 units as against November last year.