The company management remains comfortable with EBIT guidance of 4 percent for FY19, while cost reduction initiatives, better volumes and moderation in incentives to support margin, said Goldman Sachs.
Share price of Tata Motors advanced 2.5 percent intraday Friday despite foreign research firm Goldman Sachs has maintained neutral call on the stock with a target price of Rs 283 and potential upside of 9 percent.
It has touched an intraday high of Rs 266.30 and an intraday low of Rs 258.20.
The company management remains comfortable with EBIT guidance of 4 percent for FY19, while cost reduction initiatives, better volumes and moderation in incentives to support margin, said Goldman Sachs.
In India business, management aims to enhance profitability, it added.
The share touched its 52-week high Rs 466.95 and 52-week low Rs 243.25 on 06 November, 2017 and 13 August, 2018, respectively.
Currently, it is trading 43.03 percent below its 52-week high and 9.35 percent above its 52-week low.
The company's shares declined more than 28 percent in last 6 months.
At 14:12 hrs Tata Motors was quoting at Rs 264.90, up Rs 5.25, or 2.02 percent on the BSE.
Posted by Rakesh Patil