Tata Motors share price news: The stock of Tata Motors fell 5.83 percent to a daily low of Rs 975.05. At this price, it has declined 17.30 percent from its all-time high of Rs 1,179.05, set on July 30, 2024.
Tata Motors Ltd shares fell below Rs 1,000 on Wednesday, continuing their downward trajectory. The stock of Tata Motors crash nearly 5.83 percent to a daily low of Rs 975.05. It has dropped 17.30 percent from its all-time high amount of Rs 1,179.05.
The stock of Tata Motors had strong trading volume on the BSE today, with over 13.50 lakh shares changing hands. The overall volume more than doubled the two-week average of 4.23 lakh shares. The counter’s turnover was Rs 133.23 crore, with a market capitalization of Rs 3,61,343.94 crore.
Tata Motors UBS Sell Rating
Global brokerage UBS maintained its ‘Sell’ rating on the share of Tata Motors, with a target price of Rs 825 per share. “With JLR’s order backlog already lower than pre-Covid levels and incremental bookings underperforming supply, we wouldn’t be shocked if incentives for Range Rover—JLR’s flagship model—start climbing soon from near-zero levels. Rising discounts, slowing growth, and the absence of any new ICE/hybrid launches might result in materially poorer financials for FY26, even if consensus extrapolates the previous two years’ performance,” UBS analysts warned.
Why Tata Motors Share Price is Falling?
Tata Motors shares have been consolidating after reaching all-time highs. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, stated that one of the primary worries for auto OEMs in the medium to short term is a rise in dealership inventories, which can have an impact on margins.
“The automaker has been a front-runner in the EV market. The listing of Hyundai Motors in the coming months will increase exposure in the OEM space. It will be fascinating to observe how these appraisals compare. Investors with a long-term perspective can continue to keep the stock for the medium to long term,” Bathini said.
Hyundai Motor India (HMIL), the country’s second-largest passenger car manufacturer, is preparing for an initial public offering. Furthermore, Tata Motors is India’s third-largest automaker. Technically, support for the counter was observed at Rs 975, followed by 960, 950, and Rs 940 levels.
“Tata Motors has witnessed a drop in recent trading sessions. The subsequent sell-off fuels additional weakness in the counter. The intermediate support is located at the Rs 980-960 subzone, followed by the Rs 940-odd zone. On the higher end, the Rs 1010-1030 area should now be viewed as a significant barrier in the same period,” said Osho Krishan, Senior Research Analyst – Technical & Derivatives at Angel One.
Should You Buy Shares of Tata Motors or Not?
“The stock remained lethargic on daily charts and may fall to Rs 950 shortly. Investors should ‘buy-on-dip’ at Rs 920 with an upside objective of Rs 1,000,” according to Ravi Singh, Senior Vice President (Retail Research) at Religare Broking.
“The Tata Motors stock price is bearish but somewhat oversold on daily charts, with a solid barrier near Rs 1,035.” According to Sebi-registered research analyst AR Ramachandran, a daily closing below Rs 975 might lead to a slide below Rs 948 in the near term.
According to Rupak De, “Senior Technical Analyst at LKP Securities, the stock is exhibiting a short-term negative trend.”
As of September 1, 2024, promoters owned 41.86 percent of Tata Group.
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