Medium-Term View –

TATAMOTORS

Tata Motors’ EV portfolio is emerging as a strong moat, with Nexon EV sales rising steadily. The JLR luxury segment is showing margin improvements, supported by demand recovery in key markets. The stock, currently around ₹675, faces short-term resistance at ₹700. A sustained break above could open room for ₹750–800 in the coming months. Long-term EV adoption trends, coupled with premiumization in the auto sector, make Tata Motors a structural growth story. Keep an eye on raw material prices and export demand for cues.