Tata Group firm Tata Motors Ltd reported a net profit of Rs 3,764 crore for the quarter ended September 2023 against a loss of Rs 944.61 crore in the September 2022 quarter. Tata Motors revenue rose 32% to Rs 1.04 lakh crore in Q2 against Rs 78,846 crore in the corresponding period of the preceding fiscal.
Tata Motors’ daily trend is sideways. The RSI for weekly and daily are showing sideways momentum, however, the RSI for monthly is showing bullish momentum. Based on option chain analysis, the range is between 600 and 700. Let’s plan a trade around this.
Tata Motors share price: The stock continued to decline for the fourth session today. It fell 2.04 per cent to hit a day low price of Rs 624.85. At this price, the scrip has slipped 7.83 per cent from its 52-week high of Rs 677.90, a level seen on October 16 this month.
Tata Motors expects CV demand to improve sequentially for the rest of FY24, and is focusing on gaining retail market share, delivering double-digit operating profit growth in FY24 by improving realization and cost savings. Demand for the PV industry is likely to remain steady with the onset of the festive season, and Tata Motors is expected to grow ahead of the market.