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    500570   INE155A01022

TATA MOTORS LIMITED

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End-of-day quote Bombay Stock Exchange  -  2022-08-11
477.50 INR   +0.18%
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Tata Motors aims to sell 50,000 EVs in this fiscal yr

07/04/2022 | 11:34am EDT
FILE PHOTO: Workers install the electric motor inside a Tata Nexon electric sport utility vehicle (SUV) at the Tata Motors plant in Pune

NEW DELHI (Reuters) - Tata Motors aims to sell about 50,000 electric vehicles (EVs) in the fiscal year to March 31, and double that in the 2023/24 period, Chairman N Chandrasekaran told a shareholders' meeting on Monday.

In 2021/22, Tata Motors sold 19,105 EVs, a growth of 353% from the previous fiscal year.

Chandrasekaran also said that his company's performance is expected to improve in this fiscal year as the overall supply situation, including that of semiconductors, is gradually

improving and commodity prices are stabilizing.

"We continue to work closely with our customers and ecosystem partners to mitigate risks and manage uncertainties. Accordingly, we expect performance to progressively improve

through the year with the second half of FY23 being notably better than the first half," he said.

Electrification is the cornerstone of Indian Prime Minister Narendra Modi's climate change and carbon reduction agenda and EVs are seen as a way to help India to cut its oil import bill and reduce pollution in major cities.

India wants electric models to make up 30% of total passenger car sales in the country by 2030, up from about 1% today, and e-scooters and e-bikes to account for 80% of total two-wheeler sales, up from about 2%.

(Reporting by Manoj Kumar; editing by Carmel Crimmins)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.34% 93.9 Delayed Quote.25.61%
TATA MOTORS LIMITED 0.18% 477.5 End-of-day quote.-1.01%
WTI 0.52% 88.571 Delayed Quote.21.92%
All news about TATA MOTORS LIMITED
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Financials
Sales 2023 3 216 B 40 453 M 40 453 M
Net income 2023 39 050 M 491 M 491 M
Net Debt 2023 724 B 9 101 M 9 101 M
P/E ratio 2023 29,5x
Yield 2023 0,01%
Capitalization 1 704 B 21 430 M 21 430 M
EV / Sales 2023 0,75x
EV / Sales 2024 0,58x
Nbr of Employees 73 608
Free-Float 57,4%
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Mean consensus BUY
Number of Analysts 30
Last Close Price 477,50 INR
Average target price 530,47 INR
Spread / Average Target 11,1%
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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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