This investment is anticipated to result in a gross development value (GDV) of over Rs 3,500 crores
Passenger Vehicle production also rose by 13 %, with 1,73,230 units produced in October 2023, up from 153,550 units in the same month the previous year
From July to September, the company's net profit dropped by 78% year over year to Rs 60.10 crore. Additionally, revenue suffered, falling to Rs 2,424 crore, down roughly 11% year over year.
Recommendation: Add; Target price: Rs 3330
As a consequence, the operating margin jumped 638 basis points year-on-year to 20.18%.
Recommendation: Buy; Target Price: Rs 765
EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by a substantial 32.6% to Rs 225 crore from Rs 169.7 crore the year before.
According to a statement from Tata Motors, TPEM and JLR will also sign an Engineering Services Agreement (ESA) to assist TPEM's change content requirements for the first vehicle development.
Recommendation: Buy; Target Price: Rs 600
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