What's Going On With Tata Motors Share Price Today?
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Tata Motors‘ share price was wobbly on Tuesday morning despite a global brokerage firm maintaining its bullish stance on the company.

What Happened: JPMorgan has maintained an “overweight” rating on Tata Motors with a target price of ₹1,250, indicating an upside of around 14% from the stock’s last closing price of ₹1,092.40 .

According to the firm’s monthly sales tracker for Jaguar Land Rover (JLR), retail sales dipped 1% year on year in July. Despite this, the firm noted that inventories in China are under control, while inventories and incentives in the US remain stable.

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However, there has been an increase in incentives in the U.S. market across the board. Jaguar Land Rover, in particular, is faring better compared to pre-Covid levels in this regard. The analysts also pointed out that Jaguar Land Rover’s operations might encounter some near-term headwinds due to supply challenges.

Last week, S&P Global revised the credit ratings of JLR and Tata Motors. Tata Motors has been upgraded to “BBB” with a "stable" outlook from “BB+” with an outlook rating of "watch positive".

Jaguar Land Rover has been upped to “BBB-” from “BB”, while the ratings agency’s outlook improved on the business to "positive" from "watch positive".

The record date for the Tata Motors differential voting rights (DVR) conversion is set for later this week.

Price Action: Tata Motors’ share price was down 0.11% to trade at ₹1,091.20 as the markets opened on Tuesday.

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