Tata Motors is trading higher by over 3% at Rs 263 in otherwise subdued market after investment bank Goldman Sachs said that the stock will become multi-bagger in next four years.
“Investment bank Goldman Sachs in its report has said that Tata Motors has the potential to reach a market cap of $30 billion by fiscal 2017. The auto maker's current market capitalisation is $13.8 billion” the Reuters report suggests.
“The bank also of the opinion that the cash flow of the company can nearly double during these four years, has maintained a 'buy' recommendation on Tata Motors with a target price of Rs 334,” added report.
Meanwhile, the auto maker will announce its October vehicle sales numbers today.
The stock opened at Rs 257 and touched high of Rs 264 on the NSE. A combined 3.80 million shares have changed hands on the counter so far on the NSE and BSE.
