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Tata Motors climbs 6% after falling 12% in nine days

Edelweiss Securities upgraded the stock to 'Buy'. It also revised sum-of-the-parts or SOTP-based target price to Rs 245 from earlier Rs 140 per share.

Brokerages slashed price targets on Tata Motors after the company reported biggest loss in India’s corporate history. The consensus 12-month price target for the stock is down to Rs 215 from Rs 252 earlier this month. Some brokerages have cut the tar
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SI Reporter Mumbai
Shares of Tata Motors climbed 6 per cent to Rs 187 on the BSE on Wednesday on the back of heavy volumes after Edelweiss Securities upgraded the stock to ‘Buy’. It also revised sum-of-the-parts or SOTP-based target price to Rs 245 from earlier Rs 140 per share.

The counter has seen huge trading volumes with a combined 44 million equity shares changing hands on the NSE and BSE till 02:00 pm. In comparison, the S&P BSE Sensex was up 0.82 per cent at 41,304 points.

Tata Motors had underperformed the market by falling 12 per cent from its