big bull of indian stock market Rakesh Jhunjhunwala Titan Company and Tata Motors have increased their stake in DVR in the recently ended September 2021 quarter. After the news became public, the fall in Titan Company’s shares stopped immediately, while the DVR share price of Tata Motors started seeing a sharp jump. According to stock market analysts, both the Tata shares are looking positive and may give a sharp ‘uptrend’ in the short to medium term.
Both the stocks of Rakesh Jhunjhunwala are expected to rise; Sumeet Bagadiya, Executive Director, Choice Broking said, “Both Titan Company and Tata Motors DVR shares are looking positive on the chart pattern in immediate short term. One can buy both the shares at current market price. One can buy Titan Company for immediate. Can buy shares. Short term target of ₹maintain stop loss at 2600 ₹2280 per share level. Similarly, speed buying can be initiated for immediate short term target at CMP in Tata Motors DVR ₹from 280 ₹maintain stop loss at 300 ₹230 each level.”
Speaking on the fundamentals backing Titan Company’s shares; Rahul Sharma, Co-Founder, Equity99 said, “Titan Company has a ROCE of 13 per cent and an ROE of 13.6 per cent. It is maintaining a healthy dividend payout ratio of 30.64 per cent. Both FIIs and DIIs have increased their stake in the company. In the quarter ended September 2021. We expect a good growth in sales for the company keeping in view the festive season. We expect it to reach the target price ₹2750.”
Expecting Tata Motors’ DVR shares to continue the bull run in the short to medium term, Rahul Sharma of Equity99 said, “Tata Motors has a strong presence in India, UK, South Korea, South Africa, China, Brazil, Austria and Slovakia. Strong operations, a global network of subsidiaries, affiliates and joint ventures (JVs), including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.
“Tata Motor’s EV unit valuation is proposed at $8 billion and plans to raise $1 billion to further EV play. The company has a 70 per cent market share in India’s 4-wheeler EV space. Currently, Tata Motors has three electric car models, Nexon, Tigor, and Xpres T sedan. It may also launch an electric SUV called Punch. Nexon is currently the top seller in India’s electric passenger vehicle market, which is expected to launch in January 2020. Over 7,000 units have been sold since the launch.We expect the counter to reach the target price of ₹400,” concluded Rahul Sharma of Equity99.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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