Tata Motors surges 6%, hits over 4-month high on strong Q3 performance

Tata Motors will benefit from a macro recovery in India, company-specific volume/margin drivers, and a sharp improvement in FCF and leverage in both JLR and India ops, Motilal Oswal said in a note.

Shares of Tata Motors surged 6 per cent, hitting an over four-month high, of Rs 444.60 on the BSE in Friday’s intra-day trade as the company posted a consolidated net profit of Rs 3,043 crore in the third quarter of fiscal 2022-23 (Q3FY23), after reporting losses for seven straight quarters. The company had posted a net loss of Rs 1,452 crore in a year ago quarter.

The stock was trading at its highest level since September 16, 2022.

The healthy performance during the quarter was on the back of a strong order book, better semiconductor chip supply, tempered