Accelerating Success: Tata Motors Shares Soar 7% on Stellar Q3 Performance Timesnews24.in

Accelerating Success: Tata Motors Shares Soar 7% on Stellar Q3 Performance

Tata Motors stock value surged over 7% to initiate trading at a new peak for the 52-week period on Monday following robust Q3 outcomes, showcasing a twofold surge in its combined net earnings. Tata Motors equities climbed by as much as 7.19%, reaching ₹942.00 each on the BSE. For the third quarter of FY24, Tata Motors reported a net profit of ₹7,025 crore, marking a remarkable 137.5% upswing from ₹2,957.71 crore in the corresponding period of the prior year. This surge was driven by robust demand for both passenger and commercial vehicles, strategic price increases, and an enhanced product mix. The company’s Q3FY24 revenue ascended by 24.9%, reaching ₹110,577 crore compared to ₹88,489 crore YoY. Revenue from its British luxury car unit, Jaguar Land Rover (JLR), witnessed a substantial increase from ₹58,863 crore to ₹76,665 crore. Operational efficacy during the December quarter showed enhancement as EBITDA experienced a 42.5% YoY boost, amounting to ₹15,333 crore, and the EBITDA margin expanded by 171 basis points to 13.94%. In an endorsement of Tata Motors, global brokerage firm Jefferies heightened the EPS projections for FY24-26 by 7-11%, affirming a ‘Buy’ rating on the stock and elevating the target price to ₹1,100 per share. While Tata Motors’ combined EBITDA slightly trailed Kotak Institutional Equities’ estimates, the EBITDA from JLR and the domestic CV business surpassed expectations due to favorable raw material trends and a more affluent product mix. However, the EBITDA for the domestic PV business was impacted by increased expenses related to product development for electric vehicles. In conclusion, the domestic brokerage anticipates a robust performance from FY2024 to FY2026, driven by JLR’s improved business performance, consistent demand patterns, augmented market share in both PV and CV sectors, and a net positive cash balance sheet expected by FY2025.

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tata power share price rises after the market close

TATA power share price rises after the market close

After the market closed, a major announcement was made by Tata Power. Its subsidiary, TATA POWER RENEWABLE ENERGY, has entered into Power Purchase Agreements (PPAs) with TATA MOTORS for 9 MWp. These PPAs have been signed for the Pant Nagar plant in Uttarakhand. Performance of Tata Power shares:- In the past week, Tata Power shares have seen a 4% increase. Over the past month, there has been a 10% increase. Over the past three months, there has been a 16% increase. Over the past three years, there has been a remarkable 290% increase. Quarterly Results of Tata Power:- In comparison to the April-June quarter of the financial year 2022-23, Tata Power has reported a profit growth from INR 794.6 crore to INR 972.5 crore in the same quarter of the financial year 2023-24. In the April-June quarter of the financial year 2022-23, Tata Power’s revenue was INR 14,495.5 crore. In the same quarter of the financial year 2023-24, revenue increased to INR 15,213.3 crore. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) has seen significant growth, rising from INR 1,683.4 crore to INR 2,943.6 crore. The margin has also increased from 11.6% to 19.4%. Explanation of Power Purchase Agreement (PPA):- A Power Purchase Agreement is a long-term contract between a power generator, typically a utility or company, and a power purchaser, usually a utility or business. PPAs can range from 5 to 20 years or more, during which the power purchaser buys electricity at a predetermined price.

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