Tata Motors share price jumps 8% today on strong JLR sales; should you buy, hold or sell-

Tata Motors share price jumps 8% today on strong JLR sales; should you buy, hold or sell?

Tata Motors share price jumped over 8% on Monday, touching an intraday high of Rs 473.30, after the group reported encouraging global wholesale figures for Q4 FY23. Jaguar Land Rover sales in the January-March quarter stood at 361,361 units, up by 8% from the same quarter a year ago. Analysts at Motilal Oswal have a Buy rating on Tata Motors stock with a target price of Rs 525 per share. The company’s shares have risen over 16% in the past 6 months and nearly 45% in the last two years. Today the stocks touched an intraday low of Rs 450.05 and at the current price of Rs 460.75 per share, the company’s market capitalisation stands at Rs 1.53 lakh crore.

“Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in Q4 FY23 were at 1,18,321, lower by 3%, over Q4 FY22. Global wholesales of Tata Motors passenger vehicles in Q4 FY23 were at 1,35,654, higher by 10% as compared to Q4 FY22. Global wholesales for Jaguar Land Rover were 1,07,386 vehicles (JLR number for Q4 FY23 includes CJLR volumes of 12,737 units). Jaguar wholesales for the quarter were 15,499 vehicles, while Land Rover wholesales for the quarter were 91,887 vehicles,” Tata Motors said in a stock exchange filing.