Hold Tata Motors To Achieve Short term Target Of Rs 1200

Hold Tata Motors To Achieve Short term Target Of Rs 1200Technical analyst SP Tulsian has maintained 'hold' rating on Tata Motors Limited stock to achieve a short term target.

According to analyst, the stock can be purchased with a target of Rs 1200.

Today, the stock of the company opened at Rs 1155 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1381.40 and a low of Rs 684.20 on BSE.

Current EPS & P/E ratio stood at 44.34 and 25.35 respectively.

Tata Motors is eyeing to take its globalization proposals to the next level by establishing passenger car facilities in strategic off-shore locations.

Country's biggest car maker will set up its Indica and Indigo models in addition to Nano at these facilities.

The company said that its abroad locations are expected to be in nations including Indonesia, South Africa and Brazil to cover up the East Asian, African and South American market areas respectively.

Mr. PM Telang, managing director, India operations, Tata Motors stated, "We are looking at various options to improve our passenger car exports. At this stage we cannot reveal our exact plan."

The company recently fixed up its car exports plans, comprising the establishment of assembly facilities in various abroad locations and appointing distributors in nations where Tata Motors does not have an attendance currently.

Besides, Tata Motors registered an increase of 11.69% in sales during the last month to 77,543 units as against 69,427 units during the same period of 2009.

Nano sales witnessed an increase of 101% during February at 8,262 units as against the same period of 2009.