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Economic Times
11 hours ago
- Automotive
- Economic Times
BNP Paribas gives Outperform call on Tata Motors; target price Rs 830
ET Online For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 121,012.00 Crore, up 4.89 % from last quarter Total Income of Rs 115,365.00 Crore and down .36 % from last year same quarter Total Income of Rs 121,446.15 Crore. Company has reported net profit after tax of Rs 8,442.00 Crore in latest quarter. The company's top management includes Mr.N Chandrasekaran, Wagh, Ramji, Puri, Sorensen, V Chowdary, Prakash Bhatt, Sangwan, Bhandarkar, Mr.P B Balaji, Kumar Gupta. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 368.13 Crore shares outstanding. Investment Rationale Tata Motors has a diverse set of businesses that are at various stages of capex and have different accounting policies than peers. Hence, BNP Paribas thinks a blended valuation method taking the average of EV/sales, EV/EBITDA, EV/EBIT and P/E valuations normalises the impacts of these idiosyncrasies. Tata Motors' earnings are split into JLR, China JV, CV, PV, and India EV businesses. The brokerage's target valuation multiples for JLR are set by benchmarking to valuation multiples of BMW and Mercedes Benz. For the China JV, they use the valuation multiples of Brilliance China Automotive as the benchmark. Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel BNP Paribas Securities has outperform call on Tata Motors Ltd. with a target price of Rs 830.0. The current market price of Tata Motors Ltd. is Rs 674.4. Tata Motors, incorporated in 1945, is a Large Cap company with a market cap of Rs 2,46,742.40 crore, operating in the Auto sector. Tata Motors' key products/revenue segments include Motor Vehicles, Spare Parts & Others, Miscellaneous Goods, Sale of services and Other Operating Revenue for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 121,012.00 Crore, up 4.89 % from last quarter Total Income of Rs 115,365.00 Crore and down .36 % from last year same quarter Total Income of Rs 121,446.15 Crore. Company has reported net profit after tax of Rs 8,442.00 Crore in latest company's top management includes Mr.N Chandrasekaran, Wagh, Ramji, Puri, Sorensen, V Chowdary, Prakash Bhatt, Sangwan, Bhandarkar, Mr.P B Balaji, Kumar Gupta. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 368.13 Crore shares Motors has a diverse set of businesses that are at various stages of capex and have different accounting policies than peers. Hence, BNP Paribas thinks a blended valuation method taking the average of EV/sales, EV/EBITDA, EV/EBIT and P/E valuations normalises the impacts of these idiosyncrasies. Tata Motors' earnings are split into JLR, China JV, CV, PV, and India EV businesses. The brokerage's target valuation multiples for JLR are set by benchmarking to valuation multiples of BMW and Mercedes Benz. For the China JV, they use the valuation multiples of Brilliance China Automotive as the Paribas' target multiples for CV are similar to those of AL and for PV, it is at a 50% discount to BNP Paribas target multiple for MSIL, as Tata Motors' PV business margins reach the industry average. The brokerage values Tata Motors India EV business at the average of the valuation range of the last funding round, taken with a 60% discount to factor in the correction in global EV peers' valuation since then, weak sales and increasing competition. The company also has various subsidiaries and investments, which they value at a 30% holding company discount to the latest market price, where available, or at multiples similar to those of listed peers. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Economic Times
3 days ago
- Business
- Economic Times
I-Sec reiterates Buy on Swiggy, target price Rs 740
ICICI Securities has reiterated its buy call on Swiggy with a target price of Rs 740. The current market price of Swiggy is Rs 357.85. Swiggy, incorporated in 2013, is a Small Cap company with a market cap of Rs 88362.38 crore, operating in the Services sector. ADVERTISEMENT Swiggy's key products/revenue segments include Platform Services, Other Operating Revenue and Sale of Food for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 4530.71 crore, up 10.62 % from last quarter Total Income of Rs 4095.84 crore and up 44.14 % from last year same quarter Total Income of Rs 3143.24 crore. The company has reported net profit after tax of Rs -1078.96 crore in the latest quarter. The company's top management includes Kripalu, Juneja, Sharma, Daniel, Mitra, Barua, Vishnubhai Haribhakti, Nandan Reddy Obul, Majety, Clark Rabalais. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 229 crore shares outstanding. Investment Rationale ICICI Securities reiterates BUY on Swiggy and maintains its three-stage DCF-based target price of Rs 740, assuming 11.5% WACC and 5terminal growth ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
4 days ago
- Business
- Time of India
I-Sec downgrades Ceat to Hold, target price Rs 3,625
ICICI Securities has downgraded Ceat to Hold (earlier Add) with a target price of Rs 3,625. The current market price of Ceat is Rs 3743.9. Ceat, incorporated in 1958, is a Mid Cap company with a market cap of Rs 15187.59 crore, operating in the Tyres sector. Ceat's key products/revenue segments include Automobile Tubes, Other Operating Revenue, Scrap, Others, Royalty Income for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3425.14 crore, up 3.69 % from last quarter Total Income of Rs 3303.33 crore and up 14.36 % from last year same quarter Total Income of Rs 2994.92 crore. The company has reported net profit after tax of Rs 93.24 crore in latest quarter. The company?s top management includes Mr.H V Goenka, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Mr.H V Goenka, Pardeshi, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Pardeshi. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 4 crore shares outstanding. Investment Rationale Over the next two years, CEAT aims to gain leadership position in the PV replacement segment (currently, no. 3 player with 16% market share); it is also targeting ~200bps of market share expansion in the TBR segment. CAMSO?s integration is underway. Near-term focus shall be on driving growth and synergies in the OHT business. While medium-term prospects remain strong (with respect to growth/margin), ICICI Securities remains watchful of US-tariff related uncertainties potentially impacting growth/margins in the near term. Valuations remain rich, post the stock's recent run-up (~25% in last two months). The brokerage downgrades the stock to HOLD, from Add, with a target price of Rs 3,625 (unchanged) based on 16x FY27E EPS. Promoter/FII Holdings Promoters held 47.21 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.28 per cent, DIIs 21.51 per cent.
Economic Times
13-06-2025
- Business
- Economic Times
Hold Bata India, target price Rs 1,275: JM Financial
JM Financial has a Hold call on Bata India with a target price of Rs 1,275. The current market price of Bata India is Rs 1225.05. The time period given by the analyst is year when Bata India price can reach defined target. Bata India, incorporated in 1931, is a Large Cap company (having a market cap of Rs 15551.19 crore operating in the Leather sector. ADVERTISEMENT Bata India key products/revenue segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 810.51 crore, down -12.72 % from last quarter Total Income of Rs 928.66 crore and down -1.13 % from last year same quarter Total Income of Rs 819.77 crore. The company has reported net profit after tax of Rs 45.92 Crore in the latest quarter. The company?s top management includes Windlass, Shah, Somani, Chudasama, Kumar Barat, Rajappa, Butani, Graehsler, Chehal, Dhariwal, Windlass, Sinha, Shah, Somani, Chudasama, Kumar Barat, Rajappa, Butani, Graehsler, Chehal, Dhariwal, Sinha. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 13 crore shares outstanding. Promoter/FII Holdings Promoters held 50.16 per cent stake in the company as of 31-Mar-2025, while FIIs owned 6.93 per cent, DIIs 29.45 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
13-06-2025
- Business
- Time of India
Hold Bata India, target price Rs 1,275: JM Financial
IANS Bata India Bata India key products/revenue segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 810.51 crore, down -12.72 % from last quarter Total Income of Rs 928.66 crore and down -1.13 % from last year same quarter Total Income of Rs 819.77 crore. The company has reported net profit after tax of Rs 45.92 Crore in the latest quarter. The company?s top management includes Windlass, Shah, Somani, Chudasama, Kumar Barat, Rajappa, Butani, Graehsler, Chehal, Dhariwal, Windlass, Sinha, Shah, Somani, Chudasama, Kumar Barat, Rajappa, Butani, Graehsler, Chehal, Dhariwal, Sinha. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 13 crore shares outstanding. Live Events Promoter/FII Holdings Promoters held 50.16 per cent stake in the company as of 31-Mar-2025, while FIIs owned 6.93 per cent, DIIs 29.45 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel JM Financial has a Hold call on Bata India with a target price of Rs 1,275. The current market price of Bata India is Rs 1225.05. The time period given by the analyst is year when Bata India price can reach defined target. Bata India, incorporated in 1931, is a Large Cap company (having a market cap of Rs 15551.19 crore operating in the Leather India key products/revenue segments include Footwear and Other Operating Revenue for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 810.51 crore, down -12.72 % from last quarter Total Income of Rs 928.66 crore and down -1.13 % from last year same quarter Total Income of Rs 819.77 crore. The company has reported net profit after tax of Rs 45.92 Crore in the latest company?s top management includes Windlass, Shah, Somani, Chudasama, Kumar Barat, Rajappa, Butani, Graehsler, Chehal, Dhariwal, Windlass, Sinha, Shah, Somani, Chudasama, Kumar Barat, Rajappa, Butani, Graehsler, Chehal, Dhariwal, Sinha. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 13 crore shares held 50.16 per cent stake in the company as of 31-Mar-2025, while FIIs owned 6.93 per cent, DIIs 29.45 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
