Tata Motors share price: ICICI Securities raise target price to Rs 325
Tata Motors Q3 FY21 operational performance beat consensus estimates with consolidated EBITDA margins at 14.8% (up 444 bps YoY); driven by strong performance across domestic PV/CV and JLR. Tata Motors Management remains focussed on FCF generation (Q3: Rs 79 bn) and thereby aiding net debt reduction (QoQ: Rs 68 bn).
Tata Motors Management reiterated its hard (ambitious) target of turning net debt free by FY24. Tata Motors Management also laid out a strong market share target in domestic PV’s of >10%: Reuters