Tata Motors reported 137% rise in net profit for the quarter ended December 2023 at Rs 7025 crore (attributable to shareholders) as against a net profit of Rs 2958 crore in the year-ago quarter. Tata Motors' total revenue rose 25% to Rs 1,10,577 crore in Q3FY24 as against Rs 88,488 crore in the corresponding period of the preceding fiscal.
Shares of Tata Motors Ltd approached their record high today after global brokerage JPMorgan upgraded shares of the Tata Group firm to overweight from the earlier stance of neutral. The brokerage revised its price target on Tata Motors to Rs 925 apiece from the Rs 680 earlier. Tata Motors stock gained 2.62% to a high of Rs 801.85 on BSE. Tata Motors stock opened higher at Rs 797.25 on Thursday. Market cap of the firm rose to Rs 2.64 lakh crore. Total 4.72 lakh shares changed hands amounting to a high turnover of Rs 37.72 crore on BSE. Tata Motors stock hit a 52-week low of Rs 381 on January 6, 2023 and a record high of Rs 804 on January 2, 2024.