Tata Motors hits record high; Citi raises target

Shares in Tata Motors gain as much as 3.1 percent to a record high of 434.30 rupees after Citigroup raises its price target on the stock to 486 rupees from 421 rupees, citing the outlook for the automaker's luxury unit Jaguar Land Rover (JLR).

Citi says JLR is poised to become the world's fourth biggest luxury car maker on the back of new launches in the next 15-18 months.

Citi also says JLR will benefit from China's growing luxury car market, which the investment bank estimates will grow at around 15 percent over the next two years.

JLR, via its joint venture in China, could sell around 160,000 units by fiscal year 2016, implying an around 8 percent market share, according to Citi.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The big challenge before India now is to figure out the real China

    Sino-Indian relations come under a rather special category, as far as ties between two neighbouring countries go.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Scientific and field level know-how

Recently addressing the scientists of the Indian Council of Agricultural ...

Rajgopal Nidamboor

How synchronous empathy helps us

All of us are in an undulating ‘hypnotic’ state. A ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture