Tata Motors is the most important Indian car manufacturer. Based in Mumbai, Tata Motors cooperates with more than 5 car manufacturers as Fiat, Ferrari, Daewoo, Jaguar and Land Rover for several activities from software to motors.

Latest group’s publications 10 months ago showed a strong growth due to the acquisition of Land Rover and Jaguar at 1 224 billion Indian rupees against 353 billion for fiscal 2010. For 2012, turnover is expected at 1 600 billion Indian rupees and net result should increase at 107.4 billion.

Technically the stock shows a consolidation phase below its 290 INR resistance. The share has always failed to cross up the INR 290.5 resistance. In this context, it would be preferable to wait for the consolidation process to run its course and only take a long position at INR 260 to target INR 290.5. A stop-loss would be positioned at INR 260.