This stock of Rakesh Jhunjhunwala is not slowing down, rises 23% in 3 sessions

Multibagger Stock: Shares of Tata Motors NSE rose 8.57% in the third session on Monday. The stock has gained about 23 per cent in the last three sessions. On Monday, it was trading at Rs 411.25 with a gain of 7.39 per cent on the BSE. Shares of Tata Motors DVR closed at Rs 201.10, up over 5 per cent.

Last week, brokerage house Morgan Stanley raised the target price of Tata Motors to Rs 448 from Rs 298. Tata Motors is largely seen as the global luxury sport due to Jaguar Land Rover’s dominance in the company’s topline, but the broker believes the boom will come from its Indian business.

Brokerage house Morgan Stanley said, “We expect 2022-23 to be strong for Indian auto and Tata’s Indian business, with its low cost structure, fresh model portfolio and high leverage.”

Rakesh Jhunjhunwala’s stake in Tata Motors
As on June 30, 2021, veteran investor Rakesh Jhunjhunwala held 37,750,000 equity shares or 1.1 per cent stake in the company, valued at Rs 1,552.46 crore. The company is yet to announce the shareholding for the September quarter.

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