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Tata Motors' Share Price Erases Loss After Bagging Chassis Order From Uttar Pradesh

Dec 17, 2024 - ndtvprofit.com
Tata Motors Ltd. received an order to supply 1,297 bus chassis to the Uttar Pradesh State Road Transport Corp (UPSRTC), which led to a rise in its share price. The company's shares erased earlier losses and traded slightly higher following the news, although Tata Motors has not yet issued an official statement about the order. The stock rose by 1.47% to Rs 796.35 apiece and was trading 0.57% higher at Rs 789.30 apiece as of 12:35 p.m., despite a 0.89% decline in the NSE Nifty 50.

Tata Motors shares had opened slightly higher and then declined to a day's low before recovering. The stock has seen an 8% gain over the past 12 months and a 1.34% increase on a year-to-date basis. The total traded volume was 0.8 times its 30-day average, with a relative strength index of 42.30. Among 35 analysts tracking the company, 20 recommend a 'buy', 10 suggest a 'hold', and five advise a 'sell'. The average 12-month analysts' consensus price target indicates a potential upside of 22.1%.

Key takeaways:

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  • Tata Motors Ltd. received an order to supply 1,297 bus chassis to Uttar Pradesh State Road Transport Corp.
  • Following the news, Tata Motors' share price rose 1.47% to Rs 796.35, erasing earlier losses.
  • The stock has gained 8% over the past 12 months and 1.34% on a year-to-date basis.
  • Out of 35 analysts, 20 maintain a 'buy' rating for Tata Motors, with an average 12-month price target implying a 22.1% upside.
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