India's Tata Motors Passenger Vehicles gains on strong retail demand outlook
BUZZ-India's Tata Motors Passenger Vehicles gains on strong retail demand outlook ** Shares of India's Tata Motors Passenger Vehicles TAMO.NS up 11.06% this week, making the stock best performer on the Nifty50 .NSEI, which is up 0.23% for the week
** TAMO rises as much as 1.31% to 406.2 rupees on Friday, while NSEI is down 0.42%
** Phillip Capital says Tata Motors retail sales are growing at a high double-digit pace, driven by strong demand for Punch and Nexon models and improving traction in Sierra
** Flags supply shortages across models, with waiting periods of 1-1/2 to 3 months for popular vehicles
** Jefferies expects TAMO's May wholesale volumes to rise 33% year-on-year to 56,000 units, aided by robust passenger vehicle registrations
** TAMO rated "hold" on avg by 28 analysts; median PT 370 rupees - data compiled by LSEG
(Reporting by Devika Nair in Bengaluru)
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