Tata Motors hits all-time high, among top-10 bluechip gainers

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Tata Motors stock's recent momentum has been escalated after being upgraded by another brokerage house, Deutsche Bank. Tata Motors stock's recent momentum has been escalated after being upgraded by another brokerage house, Deutsche Bank.
SummaryTata Motors is one of the top-10 bluechip gainers of the year, having rallied nearly 12% over the period.

experts remain upbeat about the prospects of the JLR business, some have started questioning whether there is much upside left for the stock, given a sharp rally of about 27% in the last three months.

Recently, Kotak Institutional Equities downgraded the stock to ‘add’ from ‘buy’, citing fair valuation of the stock. The brokerage, which also raised its target price on the stock from R355 to R375, however, acknowledged that JLR’s operating profit is likely to benefit from a richer product mix and positive operating leverage.

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