The share price of Tata Motor increased by 9.6% on Friday to hit an intraday high of Rs 408 per share price. Tata Motors registered a consolidated net loss of Rs 1,033 crore in the fourth quarter of the previous financial year, down from Rs 7,605 crore in the same period last year.
Analysts believe Tata Motor’s results were mixed and they anticipate short-term headwinds for the stock. They reduced their target prices while maintaining their ‘Buy’ calls on Tata Motors stock. Revenue was Rs 78,439 crore, down from Rs 88,627 crore the previous year. Tata motors notice earnings before interest, taxes, depreciation, and amortization (EBITDA) at Rs 8,800 crore.
Tata’s commercial vehicle revenue was Rs 18.500 crore up 29%, EBITDA at 5.9% and its passenger vehicle revenue was Rs 10.500 crore, up 62.0%, EBITDA at 6.9%.
The demand remains solid despite geopolitical and inflation issues said the management of Tata Motor.