Bangalore: Shares of Tata Motors in India rose to a four-year high on Thursday after Morgan Stanley Research upgraded its shares in anticipation of Jaguar Land Rover promoting annual returns from parents.
The brokerage raised the rating on Tata Motors from “equivalent” to “overweight”, which has been maintained since 2017, and the automaker’s Indian business is expected to make a full year profit after eight years of losses.
Shares of Tata Motors rose 14% to Rs 383 in India’s blue-chip Nifty 50 index.
Morgan Stanley analysts believe that Tata Motors, with the help of its Indian business, will see the highest operating and financial gains among its peers.
The carmaker had previously stated that it aims to achieve zero auto credit by fiscal year 2024, which Morgan Stanley believes is a good indicator for the company. Raw materials and infectious uncertainty.
However, Morgan Stanley said these risks are now well understood by market participants and may be a factor in stock prices.
(This story was not edited by NDTV staff and was automatically created from Syndicate Feed.)