Tata Motors billion dollar boost for EV, Brokerages bet big despite 180% rise this year

Shareholders are getting dizzy with Tata Motors' rally which is getting into top gear with a billion dollar boost from TPG. Private equity firm TPG Group announced it's investment Rs 7,500 crore ($1 billion) in TaMo's new wholly-owned electric vehicle subsidiary. TPG Group will secure 11-15 percent stake in the EV subsidiary at an equity valuation of $9.1 billion.

The stock has already seen a stunning rise of 190% just this year alone, up 7 times from it March 2020 lows. But the rally is far from over, TPG's announcement is exciting brokerages who are raising their bets on the Indian car maker-:

• HSBC maintains Buy call on Tata Motors with target being raised to Rs 550.
• Nomura upgrades Tata Motors to Buy from Neutral on its India PV electrification plans, target is raised to Rs 547/sh
• Jefferies raises target for Tata Motors to Rs 565 while maintaining a Buy on the stock