Street View: Brokerages cautious on Tata Motors PV despite ambitious growth targets
BUZZ-Street View: Brokerages cautious on Tata Motors PV despite ambitious growth targets ** India's Tata Motors Passenger Vehicles TAMO.NS said at its investor day on Tuesday that it aims to nearly double its revenue and sales volumes by fiscal 2031
** TAMO down 1.3% to 349.9 rupees
GROWTH, MARGINS IN FOCUS
** Jefferies ("underperform," PT: 300 rupees) says it likes the company's improving market share in India but sees "headwinds" for Jaguar Land Rover
** BofA Global Research ("underperform," PT: 335) says "JLR margin recovery can be a bit elusive to us at the current juncture, given elevated costs and competition headwinds"
** Nomura ("neutral," PT: 373 rupees) says the guidance reinforces its view on the company's ability to grow faster than industry, led by EVs; high competitive intensity may limit margin improvement in FY27
** Emkay Global ("add," PT: 390 rupees) notes the company retained its guidance of 10% growth in passenger vehicle industry for despite a higher base in the second half of FY26
(Reporting by Abhinav Parmar in Bengaluru)
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