Rakesh Jhunjhunwala is bullish on these Tata shares. Should you buy or hold?

Big Bull of Indian stock market Rakesh Jhunjhunwala has increased his stake in Titan Company and Tata Motors DVR in recently ended September 2021 quarter. After this news became public, the downtrend in Titan Company shares stopped immediately while Tata Motors DVR share price started giving sharp upside movements. According to stock market experts, both Tata shares looking positive and it may give sharp ‘uptrend’ in short to medium term.

Expecting sharp upside move in both Rakesh Jhunjhunwala stocks; Sumeet Bagadia, Executive Director at Choice Broking said, “Both Titan Company and Tata Motors DVR shares are looking positive on the chart pattern in immediate short-term. One can buy both shares at current market price. One can buy Titan Company shares for immediate short-term target of 2600 maintaining stop loss at 2280 per share levels. Similarly, momentum buy can be initiated in Tata Motors DVR at CMP for immediate short-term target of 280 to 300 maintaining stop loss at 230 apiece levels.”

Speaking on the fundamentals supporting Titan Company shares; Rahul Sharma, Co-Founder at Equity99 said, “Titan Company has a ROCE of 13 per cent & ROE of 13.6 per cent. It has been maintaining a healthy dividend payout ratio of 30.64 per cent. Both FIIs & DIIs have increased their stakes in the company in recently ended September 2021 quarter. Considering the festival season approaching we expect a good jump in company’s sales. We expect it to reach the target price of 2750.”

Expecting bull run to continue in Tata Motors DVR shares in short to medium term, Rahul Sharma of Equity99 said, “Tata Motors has operations in India, the UK, South Korea, South Africa, China, Brazil, Austria, and Slovakia through a strong global network of subsidiaries, associate companies, and Joint Ventures (JVs), including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.

“Tata Motor’s EV unit valuation is proposed at $8 billion and is planning to raise $1 billion to push EV play. The company has a 70 per cent market share in India’s 4-wheeler EV space. Currently, Tata Motors has three electric car models, Nexon, Tigor, and Xpres T sedan. It may also look to launch an electric SUV called Punch. Nexon is currently the top seller in India’s electric passenger vehicle market with sales of more than 7,000 units since its introduction in January 2020. We expect this counter to reach the target price of 400,” concluded Rahul Sharma of Equity99.

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