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    500570   INE155A01022

TATA MOTORS LIMITED

(500570)
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Indian shares start November on strong note; Tata Motors results in focus

11/01/2021 | 12:36am EST

BENGALURU, Nov 1 (Reuters) - Indian shares kicked off November on a strong note as realty and metal stocks helped benchmark indexes rise on Monday after three straight sessions of losses, with investors awaiting Tata Motors Ltd's quarterly results due later in the day.

By 0511 GMT, the blue chip NSE Nifty 50 index had risen 0.41% to 17,744.95, while the benchmark S&P BSE Sensex had gained 0.33% to 59,491.83.

Both indexes rose more than 30% this year to hit all-time highs last month, helped by a decline in COVID-19 cases, ample liquidity, a re-opening of the economy and expectations of a strong festive season.

However, they have lost more than 4% since their October highs on concerns about valuations and heavy selling by foreign institutional investors. The Nifty and the Sensex fell 3.3% each over the last three sessions.

"From the market perspective, what we saw over the last three-four days was a sharp correction, which generally is considered good when we have such a one-sided rally," said Gaurav Garg, head of research at CapitalVia Global Research.

Investors are back in buying mode, supported by strong September-quarter results, Garg said.

Of the 30 Nifty 50 companies that have reported September-quarter results so far, 17 have beaten estimates, Refinitiv Eikon data showed.

On Monday, the Nifty metal index gained 2.58%, helped by a 12% jump in Steel Authority of India after the steelmaker posted a near eleven-fold surge in quarterly profit.

The Nifty realty index climbed 3.47%. Demand for housing and office spaces is gaining traction as the economy opens up further and the festive season starts. This was reflected in quarterly results reported by DLF and Oberoi Realty last week.

Among individual stocks, Tata Motors was down 0.8% ahead of its earnings report, while agrochemical maker UPL fell 3.5% after missing quarterly profit expectations.

(Reporting by Anuron Kumar Mitra and Gaurav Dogra in Bengaluru; Editing by Ramakrishnan M. and Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DLF LIMITED 0.42% 405.15 Delayed Quote.3.44%
OBEROI REALTY LIMITED -0.06% 939 Delayed Quote.9.26%
STEEL AUTHORITY OF INDIA LIMITED -1.95% 105.35 End-of-day quote.-1.68%
TATA MOTORS LIMITED -2.68% 510.95 End-of-day quote.5.93%
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Analyst Recommendations on TATA MOTORS LIMITED
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Financials
Sales 2022 2 905 B 38 933 M 38 933 M
Net income 2022 -26 480 M -355 M -355 M
Net Debt 2022 757 B 10 140 M 10 140 M
P/E ratio 2022 -88,6x
Yield 2022 0,02%
Capitalization 1 828 B 24 517 M 24 503 M
EV / Sales 2022 0,89x
EV / Sales 2023 0,66x
Nbr of Employees 75 278
Free-Float 98,7%
Chart TATA MOTORS LIMITED
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Tata Motors Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends TATA MOTORS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 510,95 INR
Average target price 540,81 INR
Spread / Average Target 5,84%
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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