Tata Motors share price down nearly 7% in past 2 sessions: Kotak says SELL, price target Rs 205
Tata Motors reported a strong operational performance in the standalone business, whereas JLR operating performance was below expectations due to lower-than-expected average selling points in 4QFY21. Kotak Institutional Equities believes JLR launches in the BEV space are pretty late than competition and coupled with lower investments could lead to market share loss going forward
JLR is trading at a significantly higher multiple as compared to BMW, which is not justified in our view. Kotak Maintains SELL rating on Tata motors; revised FV Rs 205: Reuters