There is vigorous action in the stock market before the weekly expiry. In this, a strong boom is being seen in selected stocks. Auto sector has one such stock, which is trading with a strength of 1.25 per cent due to positive triggers.
The name of this stock is Tata Motors. The stock is up 2.5 per cent on BSE, which is trading around Rs 570. The market expert has given a buy recommendation on the stock.
Market expert Vaishali Parekh said that this share of Tata Group is overbought, but it is not that it cannot be bought. He has a buy opinion on the stock with trailing stoploss. 545 is a hurdle for the stock, which has been easily crossed. The next target on the stock is Rs 600 and Rs 620. The stop loss for this trade is Rs.540.
Tata Motors Performance
This legendary stock of Tata Group has given bang returns to the investors. Tata Motors stock has given a positive return of 14 per cent in the last one month. So far in 2023, the stock has shown a jump of 44 percent. According to experts, now the stock is ready to take flight from the current level.
Tata Motors stock is in focus
There are plans to launch the Sierra’s EV version by 2025. Tata Motors said that EVs are expected to account for 25% of the total PV in the next 3 years. Apart from this, margin of more than 10% and positive FCF is being monitored for PV business.