Fri Nov 01 15:59:39 UTC 2024: ## Tata Motors Stock Slides After Single-Day Halt, Analysts Remain Cautious

**Mumbai, India** – Shares of Tata Motors continued their downward trend on Monday, closing 4.06% lower at Rs 843.05. The decline marks a 28.5% drop from its all-time high of Rs 1,179.05 reached on July 30th, 2024.

While the stock has shown a positive year-to-date performance, climbing 6.65%, the recent fall is attributed to soft auto sales, according to Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

Despite the current pressure, Bathini remains optimistic for long-term investors, citing China’s stimulus package as a potential positive driver for Jaguar Land Rover (JLR) sales. JLR contributes significantly to Tata Motors revenue, with China accounting for nearly 27% of its volume.

However, several analysts advise against buying Tata Motors at its current price. Osho Krishan, Senior Research Analyst at Angel One, highlights the stock’s considerable instability in the short term, with crucial support expected around Rs 800.

Technical analysts like Jigar S Patel and Kushal Gandhi also express caution, emphasizing the stock’s lower highs and lack of recovery signals. They suggest that a decisive move above Rs 887 could trigger further upside, but recommend avoiding bottom fishing at current valuations.

Tata Motors is scheduled to announce its second-quarter earnings on November 8th.

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