Nomura has reiterated its ‘Buy’ rating on Tata Motors, setting a target price of ₹861, indicating a potential 33% upside from the current market price of ₹648.90 (as of March 11). The brokerage remains optimistic about Tata Motors’ growth trajectory, particularly in its luxury segment through Jaguar Land Rover (JLR).
Nomura highlighted that management remains confident about JLR’s long-term luxury market positioning and its FY25 EBIT margin targets. Additionally, US demand remains strong, while European market conditions have become less challenging, reducing headwinds for JLR’s performance. The brokerage also expects warranty costs to decline from FY25, which should further boost profitability.
Another key factor under watch is the clarity on potential US tariffs, which could impact Tata Motors’ export strategies. However, Nomura maintains a positive long-term view, citing resilient demand and improving financial metrics.
Disclaimer: The above stock recommendations are based on brokerage reports and do not constitute financial advice. Investors are advised to conduct their own research before making investment decisions.
