Tata Motors Share: The long-running decline in Tata Motors shares has stopped after the quarterly results. Even though Tata Motors' profit has fallen, investors have shown enthusiasm about the company's outlook. After opening with a slight decline this morning, Tata Motors shares saw buying and rose by 3 percent. Tata Motors stock opened at ₹ 801 on the NSE and touched a low of ₹ 792. However, after this the shares rose and the price reached the level of ₹ 829. Now the question is whether Tata Motors shares should be bought for the long term from these levels. Let us know what is the opinion of brokerage houses and experts on this.

How were the quarterly results of Tata Motors

India's leading car and truck manufacturer Tata Motors posted weak results in the second quarter, which were much below the expectations of market experts. The company's net profit fell 11 percent year-on-year to Rs 3,343 crore due to weak performance in the Jaguar Land Rover (JLR) unit and its commercial vehicle segment. Despite lagging behind in the second quarter on all fronts, brokerage houses are bullish on Tata Motors shares.

New target prices of brokerage firms

Brokerage firm CLSA has given a target price of Rs 968 to Tata Motors shares and closed it as 'outperform'. This target shows an increase of more than 20 percent from the previous closing price. The brokerage firm said in its note that it is confident with the guidance given by Tata Motors regarding Jaguar Land Rover.

At the same time, Nomura has maintained its 'buy' rating on Tata Motors after the company's weaker-than-expected performance in the second quarter. However, the target price has been reduced from Rs 1,303 to Rs 900. Similarly, Jefferies has also maintained its 'buy' rating on Tata Motors, however, the target price has been reduced from Rs 1,330 to Rs 1,000.