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    500570   INE155A01022

TATA MOTORS LIMITED

(500570)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-12-01
435.30 INR   -0.68%
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Indian shares post weekly decline as tech, autos tumble

09/16/2022 | 06:53am EST

BENGALURU, Sept 16 (Reuters) - Indian shares dropped nearly 2% on Friday to register a weekly decline, dragged by a sharp fall in technology and automobile stocks following a broader global selloff over recession worries.

Forty-eight of the NSE Nifty 50 stocks ended lower, pulling the index down 1.94% to close at 17,530.85. The S&P BSE Sensex was 1.82% lower at 58,840.79. Both the indexes posted a weekly loss of over 1.5%.

"The IT sector is pretty much mirroring declines in the U.S. market and the U.S. tech index and this signals the continuation of a downtrend. I think over the next week because we are heading into the Federal Reserve meeting, global markets would remain under pressure," said Rohit Srivastava, founder and market strategist at Indiacharts.

The domestic IT industry takes a direct hit from rate hikes in the U.S. and Europe as economic activity in those regions, where the tech sector gets most of its revenue from, could slowdown and that is the risk investors are considering, Srivastava added.

The Nifty IT index logged a weekly decline of 7%, its biggest since mid-June. The Nifty automobile index declined 2.7% on Friday.

Among heavyweights on the Nifty 50 index, automakers Mahindra and Mahindra Ltd, Tata Motors Ltd and IT services majors Tata Consultancy Services Ltd and Infosys Ltd fell over 3% each.

Vedanta tumbled 7.5% after the conglomerate clarified that new chipmaking project in the western Indian state of Gujarat will not be run by the miner, but by its holding company Volcan Investments.

Globally, equities fell on fears of aggressive tightening by the Fed in the face of warnings of a global recession from the World Bank and the International Monetary Fund.

Rating agency Fitch earlier this week cut India's gross domestic product growth forecast for the current fiscal year to 7% from 7.8%, citing a slowdown triggered by global economic stress, elevated inflation and tighter monetary policy.

(Reporting by Rama Venkat in Bengaluru, additional reporting by Gaurav Dogra; Editing by Dhanya Ann Thoppil and Rashmi Aich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.02% 0.679 Delayed Quote.-6.20%
BRITISH POUND / US DOLLAR (GBP/USD) 0.03% 1.229 Delayed Quote.-9.40%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.01% 0.742 Delayed Quote.-5.91%
EURO / US DOLLAR (EUR/USD) 0.07% 1.054 Delayed Quote.-7.41%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.11% 0.012297 Delayed Quote.-8.26%
INFOSYS LIMITED -1.16% 1637.9 Delayed Quote.-13.24%
MAHINDRA AND MAHINDRA LTD -2.23% 1264.6 Delayed Quote.51.06%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.63% 0.64084 Delayed Quote.-6.84%
NIFTY 50 -0.62% 18696.1 Delayed Quote.7.73%
NIFTY IT -0.22% 31052.1 Delayed Quote.-19.76%
TATA CONSULTANCY SERVICES LTD. -1.05% 3439.15 Delayed Quote.-8.00%
TATA MOTORS LIMITED -0.68% 435.3 End-of-day quote.-9.75%
VEDANTA LIMITED 1.16% 313.85 Delayed Quote.-8.02%
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Analyst Recommendations on TATA MOTORS LIMITED
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Financials
Sales 2023 3 253 B 39 945 M 39 945 M
Net income 2023 -19 918 M -245 M -245 M
Net Debt 2023 694 B 8 524 M 8 524 M
P/E ratio 2023 -104x
Yield 2023 0,00%
Capitalization 1 564 B 19 207 M 19 207 M
EV / Sales 2023 0,69x
EV / Sales 2024 0,56x
Nbr of Employees 73 608
Free-Float 57,2%
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Mean consensus OUTPERFORM
Number of Analysts 29
Last Close Price 435,30 INR
Average target price 495,00 INR
Spread / Average Target 13,7%
EPS Revisions
Managers and Directors
Thomas Flack Co-President & Chief Purchasing Officer
Rajendra Petkar Co-President & Chief Technology Officer
Ravindra Kumar G.P Co-President & Chief Human Resources Officer
Pathamadai B. Balaji Group Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
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