NEW DELHI: Tata Motors<http://economictimes.indiatimes.com/tata-motors-ltd/stocks/companyid-12934.cms> surged over 4 percent in trade on Friday after the company reported global vehicle sales of 96,089 vehicles for the month of May, up 12 percent YoY.
The rise in sales was mainly led by 35 percent rise in sales of its luxury Jaguar <http://www.zigwheels.com/newcars/Jaguar> Land Rover<http://www.zigwheels.com/newcars/Land-Rover> vehicles. Sales of its Jaguar Land Rover vehicles stood at 30,094 in the month. Brokerage houses expect JLR to report sales in the range of 28,000-29,000 units for May 2012 as against 25,143 units in previous month, reports ET Now. Ajay Srivastava, Dimensions Consulting Pvt. Ltd is of the view that Tata Motors is a good buy among other auto stocks and he believes that is one stock which has got lot of fundamental value. He places a target price of Rs 220 for the global auto giant. "Tata Motors is perhaps the only one which can give trading pops of 15% to 20% and none of the other stocks in auto can give you that pop," added Srivastava. In a separate report, Nomura<http://economictimes.indiatimes.com/topic/Nomura> has downgraded Tata Motors ratings to 'Neutral' with a price target of Rs 251. JLR's 4QFY12 EBITDA <http://economictimes.indiatimes.com/topic/EBITDA> declined by 240bps q-q to 14.6%, well below the estimate and consensus of 18-19%. JLR's current margins are in line with those of global peers and management's guidance. We, thus, reduce our FY13F/FY14F margins from 17.7%/18% to 14.1%/14.5%" said Nomura in its note to clients. Nomura's valuation of the standalone business remains largely unchanged. -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
