India's Tata Motors hits record high after CLSA starts with 'outperform'

Tata Motors

27/02/2026 07:14

** Tata Motors TATM.NS gains as much as 2.25% to record high of 502.4 rupees apiece; stock last up 1.6%

** Commercial vehicle maker listed in November after demerger from Tata Motors Passenger Vehicles TAMO.NS and has since risen 92.7%

** CLSA initiates coverage of TATM with an "outperform" rating and a price target of 673 rupees apiece, implying a potential upside of 40%

** CLSA's price target is the highest among 17 analysts tracking TATM with an average rating of "buy", as per data compiled by LSEG

** "Stars are aligning for TATM as both India and Europe are heading into CV upcycle, setting the stage for a robust volume and margin rebound," says CLSA

** Adds EV adoption in light CVs in India and EU and the deal with Italy's Iveco will bring strategic benefits

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))