Stock market expert Hitendra Vasudeo, stockmechanics.com has suggested that Tata Motors stock can be purchased by day traders in today’s trading session above Rs 652 for achieving an intraday target of Rs 677.

If the stock markets remain on positive track, the next intraday target for the day is above Rs 684. The stop loss for the day is Rs 635.

Shares of the company, on Wednesday, closed up Rs 7.1, or 1.13% at Rs 634.55 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 49,782.

Current EPS and P/E ratio of the stock stood at 53.69 and 11.81 respectively. The share price has seen a 52-week high of Rs 840 and a low of Rs 535 on BSE.

According to Mr. Vasudeo, Tata Motors stock will achieve the target price as the company has good growth outlooks considering its projects under implementation and influential future plans.

Besides, Tata Motors has decided to list its shares on the Tokyo Stock Exchange.

According to reports, the firm is finalizing plans to list the shares as depository receipts on the bourse in Japan.

Last week, Tata Motors had signed up an agreement with the US car maker Ford for the USD 2.3-billion takeover of British luxury brands, Jaguar and Land Rover.

Tata Motors`` American Depository Receipts (ADRs) are listed on the New York Stock Exchange.

Other stocks from the same sector that looks good for short-term trading includes Swaraj Mazda, Ashok Leyland and Eicher Motors.