Tata Motors shares surge as CLSA sets bullish target price of ₹1,133 a share

Tata Motors shares have surged today following CLSA giving the company a new target price of ₹1,133 a share. CLSA, a prominent advisory firm, anticipates Tata Motors' shares will escalate by over 15%. This optimistic forecast is underpinned by the robust performance of Jaguar Land Rover, a key division of Tata Motors, which witnessed an uptick in car sales during February compared to the previous year.

Tata Motors shares have already witnessed substantial growth this year, marking a staggering 25% increase, outpacing its counterparts in the automotive industry. Last month, Tata Motors' shares soared to their highest point in a year.

The luxury car segment of Tata Motors, JLR, registered a notable 4.5% surge in car sales in February compared to the same period last year, further bolstering investor sentiment.

In a strategic move, Tata Motors recently announced its intention to bifurcate into two distinct entities. One entity will concentrate on large vehicles like trucks, while the other will focus on smaller vehicles such as cars. This strategic maneuver is poised to potentially enhance profitability for Tata Motors, aligning with market trends and consumer preferences.