Tata Motors, L&T: Short-term trading strategies post Q1 results

Tata Motors is likely to trade with a positive bias, with an upside target of around Rs 660; while Larsen & Toubro may witness some profit-taking in the near-term.

Shares of Tata Motors and Larsen & Toubro are likely to be on traders' radar on Wednesday, as the stocks react to the Q1 earnings and other corporate developments.

After market hours on Tuesday, Tata Motors posted a consolidated net profit of Rs 3,202 crore for the first quarter of 2023-24. In the same period last fiscal year, the company has reported a net loss of Rs 4,950.97 crore. Total income grew by 42.3 per cent year-on-year in Q1FY24 to Rs 1,03,596.60 crore from Rs 72,822.02 crore.

That apart, the company also announced the termination of its differential voting rights (DVR) or