Fri Nov 01 14:59:45 UTC 2024: ## Tata Motors Stock Slides for Seventh Consecutive Day, Despite Positive Broker Forecasts

**Mumbai, India** – Shares of Tata Motors continued their downward trend on Thursday, closing below the Rs 900 mark for the seventh consecutive session. This decline comes despite optimistic forecasts from several brokerages.

The stock’s Relative Strength Index (RSI) currently sits at 27, indicating oversold conditions. Additionally, Tata Motors shares are trading below all major moving averages, highlighting a weak trend in both the short and long term. The stock is down 29.26% from its 52-week high of Rs 1179.05 reached on July 30, 2024.

Despite the recent slump, Tata Motors stock has seen significant growth in the past five years, climbing 545.46%. However, the stock has been performing poorly in the short term, falling 17% in six months, 28% in three months, and 14.42% in the last month.

Despite the current downturn, several brokerages remain bullish on Tata Motors, citing positive factors like improvements in Jaguar Land Rover (JLR) and the Commercial Vehicles (CV) business.

Prabhudas Lilladher has set a target price of Rs 1225 for Tata Motors, with a stop loss at Rs 770. The brokerage believes the stock is currently attractive, citing favorable risk-reward and a technically positive chart.

Sharekhan echoes this sentiment, assigning a price target of Rs 1,319 for the stock, citing continued improvement in JLR, Passenger Vehicle (PV), and CV businesses. However, they acknowledge the risk of a slowdown in any region where Tata Motors has a strong presence, as its revenue is widely diversified.

Kotak Institutional Equities has a target price of Rs 1,050 for the stock, but has revised its FY2025-27 earnings per share (EPS) estimates downward due to lower volume and margin expectations for all three business segments.

The market cap of Tata Motors fell to Rs 3.07 lakh crore on Thursday, with 8.32 lakh shares changing hands, amounting to a turnover of Rs 69.56 crore. The stock’s one-year beta of 1.1 indicates high volatility.

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