Tata Motors shares rose 144% from 52-week low, overbought on charts; what's next?
Tata Motors shares hit record high: The stock climbed 1.40% to a record high of Rs 976.30 in early deals on Wednesday.
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Tata Motors shares hit record high: The stock climbed 1.40% to a record high of Rs 976.30 in early deals on Wednesday.
Tata Technologies registered 14.7 percent year-on-year growth in consolidated profit at Rs 170.22 crore for the quarter ended December FY24.
Tata Technologies CEO Warren Kevin Harris mentioned that the company's Q3 services revenues were impacted by a customer transition in Southeast Asia. The development of two electric vehicles for a customer is nearing completion, resulting in a reduction in headcount. While some impact is expected to continue in Q4, the company remains optimistic for fiscal year 2025 due to deal wins and a strong order book. Operational efficiency and lower sub-contracting contributed to a 140 basis point expansion in EBITDA margin in Q3.
Tata Techs headcount has increased by 8% from FY23-end despite ongoing ramp-down in Vinfast. This indicates that the company has been able to redeploy resources and back-fill Vinfast revenues.
Tata Technologies, with its full vehicle proposition and end-to-end EV capability is a play on the electrification-led outsourcing theme, JM Financial said earlier this month.